Iowa’s housing market saw a rise in momentum throughout May, fueled by increased inventory and steady buyer demand, according to data from the Iowa Association of Realtors.
Industry leaders say the figures indicate a balanced and active market heading into the summer season.
“Buyers are benefiting from more inventory than we’ve seen in recent years, while sellers continue to see strong demand and steady price growth,” said Erik Melloy, president of the Iowa Association of Realtors. “The combination of increased inventory, rising sales and strong pending activity points to a productive summer ahead for Iowa’s housing market.”
Statewide, new listings for single-family homes reached 4,869 in May, a 4% increase over the 4,683 listings recorded during the same month last year. Active inventory rose to 8,591 listings, marking a 7.2% increase compared to May 2025.
Sales activity also trended upward. There were 3,654 closed sales in May, a slight 0.6% increase from the prior year and a 17.3% jump from April. Pending sales followed a similar pattern, totaling 3,740 for the month, a 4.1% increase over May 2025 figures.
The median sales price for single-family homes reached $260,000, a 4% increase from $250,000 a year ago. Meanwhile, the median time a home spent on the market fell to 10 days, down from 12 days in May 2025.
Les Sulgrove, the association’s statewide housing analyst, noted that the concurrent growth in inventory and buyer interest is a positive sign for the industry.
“Closed sales, pending sales and median prices all moved in a positive direction, which indicates consumers remain confident in the market,” Sulgrove said. “As we move deeper into the summer season, these metrics suggest continued stability and opportunity for both buyers and sellers across Iowa.”
Condos and townhomes see growth
The market for condos and townhomes also reported gains in May. Closed sales rose 10.8% to 597 transactions compared to the same period last year. Pending sales showed significant growth, climbing 34.2% to 624 sales.
Active inventory for condos and townhomes reached 1,929, a 3.2% increase from May 2025. The median sales price for these properties reached $242,771, reflecting a 1.2% year-over-year increase. Additionally, homes in this sector sold faster, with the median time on the market dropping to 20 days, down from 25 days a year prior.
