Iowa Housing Market 2024: A Year in Review

With 2024 behind us, it's clear to see that Iowa’s housing market has continued to grow and evolve, offering opportunities for buyers, sellers, and investors alike. Despite national market fluctuations, Iowa's real estate sector has demonstrated stability and moderate growth, making it an attractive option for those looking to make their next move.

Here’s a closer look at how home prices have changed across the state in 2024 and what it means for you.

Home Value Trends in Iowa

Statewide Growth

The statewide average home value reached $215,336, reflecting a 3.5% year-over-year increase. This steady rise highlights Iowa's resilience in the real estate market, offering a stable investment for homeowners and prospective buyers.

Median Sale Price

As of October 2024, the median sale price of homes in Iowa climbed to $241,300, a 7.4% increase compared to 2023. This growth signifies a strong demand for housing across the state, with more buyers entering the market despite rising interest rates.

Spotlight on Des Moines

The Des Moines metro area continues to stand out as a hub of real estate activity. The typical home value in Des Moines reached $200,958, marking a 4.4% increase year-over-year. This growth reflects a balance between affordability and rising demand, making Des Moines a hotspot for first-time buyers and seasoned investors alike.

Key Takeaways for Buyers and Sellers

For Buyers:

• Iowa’s steady price appreciation makes it an excellent time to enter the market, as homes continue to build long-term value.

• With typical home values still below national averages, Iowa remains one of the most affordable places to buy a home.

For Sellers:

• Rising home values and limited inventory mean it’s a seller’s market in many areas.

• Sellers who invest in pre-sale upgrades, like fresh paint or modern lighting, could see faster sales and higher offers.

For Investors:

• The steady market growth offers an opportunity to expand your portfolio with residential or rental properties.

• Des Moines and other urban centers present strong potential for rental income, especially in high-demand neighborhoods.

What’s Ahead in 2025?

As we look toward the future, Iowa’s housing market is poised for continued growth, albeit at a moderate pace. Factors such as job growth, infrastructure improvements, and an influx of younger buyers will likely keep demand strong. Sellers can expect competitive offers, while buyers will benefit from a stable and balanced market.

Ready to Make Your Move?

At DS Realty Group, we’re passionate about helping you navigate Iowa’s dynamic real estate market. Whether you’re buying, selling, or investing, our expertise can help you make informed decisions and achieve your real estate goals.

📲 Contact us today to start your journey!💻 Visit dsrealtyiowa.com for more insights, listings, and expert advice.

Let’s make your real estate dreams a reality in 2025!