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Des Moines housing market sees 21% boost in September sales

1,439 homes were sold in the Des Moines market in September 2020, compared to 1,182 in September 2019.

One industry seeing a surge during the pandemic is real estate. 

Last month, homes sold in the Des Moines market far outpaced the total from a year ago. 

In 2008, the housing bubble burst drove the country into a recession. More than a decade later, real estate is up 21% in the market as buyers and sellers find ways to adapt.

1,439 homes were sold in September compared to 1,182 in September 2019, according to data from the Des Moines Area Association of Realtors.

And homes on average are selling fast—46 days from list to close—more than a week faster than a year ago.

All good news for sellers, including the median price. Buyers are paying 6.8% more this year which equates to an increase of about $14,700.

So what's driving this boost? 

Realtor Stacy Martin says a combination of low interest rates with supply and demand.

"We were all extremely nervous when March came around," Martin said. "But the market has actually grown, it has picked up. It has not been stagnant at all."

And buyers appear to embracing a virtual experience when shopping for their next home.

"I was really nervous about that. I sold my first house over FaceTime," Martin said. "They didn't walk in the house, we did everything. virtual. All the documents were signed, every single bit of the transaction was completely virtually."

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So a great time to sell a home, and if you are looking to buy, being prepared is more important than ever.

The main thing Martin says is you should get pre-approved if you are interested in buying a home.

Nationally, Iowa is still more affordable compared to the rest of the country as the median home price across the U.S. is over $333,000 and mortgage rates hit another record low last week.