Top Mega Teams in Iowa – Ranked by Volume

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2023 Iowa Housing Market Summary

Iowa started 2023 with a total of 4,919 single-family homes on the market, with a median home price of $300,000 and an average price per square foot of $188. By the end of the year, inventory had increased to 5,273 homes on the market (+7%), with a median home price of $305,000 (+1%) and an average price per square foot of $190 (+1%).

At the start of 2023, the median days on market (DOM) was 84 days – by the end of the year, median DOM had decreased to 77 days.

Iowa started the year with 35% of homes taking a price cut (for reference, 35% is the national average for price reductions in a ‘normal’ year.) By the end of the year, about 37% of Iowa homes for sale had taken a price cut.

Finally, Altos’ proprietary Market Action Index (MAI) shows that Iowa started 2023 as a seller’s market, with an MAI score of 36; by the end of the year, the MAI had dropped to 30 – a balanced buyer and seller’s market.

This market summary is powered by Altos Research – click here to run a free report for your area.

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