September 2026 Des Moines Housing Market Update

Inventory was the biggest change in the Des Moines area heading into September. Active listings climbed from 4,498 on August 2 to 4,643 on August 30, up 12% from a year earlier. At the same time, late-August activity slowed. Pending sales fell 18.6%, and closed sales fell 20.9% in the final week of August. Buyers have more choices, but prices remain higher than last year, with a $320,000 median sale price.

Des Moines Real Estate Market at a Glance

Active listings (end of August): 4,643, up 12% year over year

Overall supply: 4.7 months, a balanced market

Median sale price for all homes: $320,000, up 4.9% year over year

Existing-home supply: 3.7 months, with a median 12 days on market

New-home supply: 8.5 months; new condo/townhome supply: 10.6 months

Condo/townhome inventory: up 36% year over year

Late-August price reductions: 539 in one week

30-year mortgage rate: 6.66% (Freddie Mac)

What Des Moines Home Buyers Should Know

Buyers have more room to compare homes than they did a year ago. Total inventory reached 4,643 listings by August 30, and overall supply rose to 4.7 months. That is a more balanced setting than a tight seller's market. For resale homes, the edge is narrower: existing homes sat at 3.7 months of supply and a median 12 days on the market. Well-priced homes are still moving fast, so be ready to act. In new construction, leverage shifts to the buyer. New homes carried 8.5 months of supply, and new condo/townhomes hit 10.6 months. Builders are more likely to negotiate on price, closing costs, or upgrades. Watch the 6.66% 30-year mortgage rate from Freddie Mac. A stable rate plus more inventory gives you options, but hold your budget firm and do not assume every seller will bend.

What Des Moines Home Sellers Should Know

Sellers still have a market for properly priced homes, but buyers are less likely to solve a pricing problem for you. Supply has grown to 4.7 months, and 539 price reductions in the final week of August show sellers adjusting. If your home is updated and priced right, the median 12 days on the market for existing homes means you can still sell quickly. If your home needs work or competes directly with new construction, expect more pushback on price and longer timelines. The 8.5 months of new-home supply means builders are your competition, especially in the newer suburbs. Price against them realistically. The median sale price is up 4.9% year over year, so equity holders are fine. Just do not test an aggressive list price in a market with more choices for buyers.

Is Des Moines a Buyer's Market or Seller's Market?

The direct answer is that the Des Moines metro is balanced overall, not one clear side. A 4.7-month supply sits in the 3-5 month balanced range. Resale homes tilt toward sellers at 3.7 months and only 12 days on the market. New construction is a clear buyer's market, with 8.5 months of supply for new homes and 10.6 for new condo/townhomes. Condo inventory is up 36% year over year. Where you land depends on the home type. Condos and new builds favor buyers; move-in-ready resale homes favor sellers, though less sharply than last fall.

My Take on the Des Moines Housing Market

I see a market that is becoming more disciplined, not falling apart. More inventory is healthy, and prices are still up. Buyers should use the extra choices to negotiate, especially if they are looking at a condo or a new construction home. Sellers need to be honest about condition and price against the actual competition, including all the new builds. My real-time advice: every block and price band is different. An updated ranch in Johnston is not the same market as a new-build condo. Conditions vary by neighborhood, price point, and property type, so my numbers are a starting point. Let us look at your home and your timeline before you decide anything.

For the latest numbers any time, see the permanent Des Moines Housing Market page, where this monthly report and every future update are archived.

Darson Grantham, Grantham Real Estate Group, Des Moines, Iowa Real Estate

Market data source: SimplyDesMoines Market Values weekly Des Moines area real estate dashboards.