2020 Des Moines Real Estate Year-End Report
While 2020 was a challenging year in most aspects to say the very least, the Des Moines real estate market actually had an excellent year. In the Des Moines Metro area, residential sales increased 16.5 percent from 2019, and the median sales price rose 5.1 percent. Homes also sold quickly, spending an average of 49 days on the market. Let’s take a look at some more 2020 statistics.
2020 Des Moines Housing Market Summary
- 16,640 residential properties sold (compared to 14,273 in 2019).
- The median sales price was $226,000 (compared to $215,000 in 2019).
- 60 percent of properties sold in 30 day or less.
- 41 properties sold for $1M or more.
These numbers are even more impressive when you take a look at the year — 2020 marked the start of a global pandemic, and there were a record low number of homes for sale. With the pandemic keeping people at home and incredibly low inventory for much of the year, even the smallest increase in sales is impressive.
Des Moines Real Estate Expected to Perform Well in 2021
The National Association of Realtors even recognized Des Moines as one of the “Top Ten Markets During and In a Post-COVID Environment in 2021-2022”. They identified Des Moines as one of the top 10 markets that have shown resilience during this pandemic period and that are expected to perform well in a post-COVID-19 environment. In alphabetical order, the cities included are:
- Atlanta-Sandy Springs-Alpharetta, Georgia
- Boise City, Idaho
- Charleston-North Charleston, South Carolina
- Dallas-Fort Worth-Arlington, Texas
- Des Moines-West Des Moines, Iowa
- Indianapolis-Carmel-Anderson, Indiana
- Madison, Wisconsin
- Phoenix-Mesa-Chandler, Arizona
- Provo-Orem, Utah
- Spokane-Spokane Valley, Washington
If you are thinking of buying or selling a home in Central Iowa this year, reach out to the Des Moines real estate professionals at Knickerbocker Real Estate today!