February home sales were up 19.4 percent from last year, reports the Iowa Association of Realtors® (IAR). The strong showing made February the eighth month in a row of increased sales. The IAR’s February 2012 Housing Trends Report shows a total of 1,861 homes sold/closed in February 2012, while 1,558 homes sold/closed in February 2011. Twenty-nine of Iowa’s 44 local Realtor® boards across the state reported increases in number of sales last month. In addition, there were 2,283 pending sales in February 2012, up 19.8 percent from last year, when there were 1,905 pending sales in the month. Prices were down slightly last month. The median sale price in February was $105,000, representing a 4.5 percent decrease from last year when the median sale price was $110,000. Twenty-five local Realtor® boards reported increases in median sale price from last February. The average days on the market was 115 days, the same as last year at this time. Twenty local boards showed a decrease in the average number of days on the market.  The statewide inventory at the end of the month was 19,228 homes, down 9.3 percent from last year.  There were 4,271 new active listings in February 2012 and 3,955 new active listings in February 2011, an increase of 8 percent. “Sales continue to be strong.

There was positive movement in much of the state and there’s some real excitement out there in the market,” says Dale Gross, president of the Iowa Association of Realtors®. “I think there were more sales in January and February than what’s typical for this time of year for a few reasons. The weather was unseasonably warm, which is great for house hunting, the economy continues to show signs of recovery, and interest rates are still incredibly low. These conditions make for a good time to buy. If buyers are on the fence, I’d really encourage them to make a move now and talk to a local Realtor®,” says Gross.

The above information was published by Iowa Association of Realtors®, May 15, 2012

With the economy showing signs of improvement, interest rates still at all-time lows, and the home values are still low, it's still a great time to buy!  If you're selling, homes are moving, so it's a great time for you as well!  Contact us at Ankeny Real Estate Service today!