(Radio Iowa) – The statewide median home sale price in July was nearly 240-thousand dollars — a record high. Iowa Association of Realtors data shows just over 37-hundred homes were sold in the state in July. That’s a nearly 29 percent drop in sales volume compared to the same month last year. There also was a 22 percent drop in the number of Iowa homes listed for sale in July. Those trends fueled the record median price for an Iowa home sold in July.

It was up 17 percent compared to July of 2021. The Realtors’ report indicates Iowa homes are selling quickly — averaging just 24 days on the market in July — and that’s 20 percent faster than July of last year. However, the president of the Iowa Association of Realtors says the housing market is cooling off, as home prices and mortgage rates rise.