Real Estate

Jason Clayworth
May 31, 2022 - News

West Des Moines to launch $4 million home improvement program

An illustration of a house.
Illustration: Annelise Capossela/Axios

West Des Moines is launching a home improvement program to beautify properties in the city's oldest neighborhood, Valley Junction, a city official tells Axios.

Why it matters: Valley Junction is the most affordable area of the city, making it an important piece to West Des Moines' housing puzzle, says Clyde Evans, the city's community development director.

Des Moines residents need to make more money to buy a home

Illustration of a gold-plated house-for-sale sign.
Illustration: Brendan Lynch/Axios

Des Moines locals have to earn 30% more than a year ago to afford the region’s median-value home, per the latest analysis by real estate company Redfin.

The big picture: The income needed to afford a home has soared as limited inventory and strong demand drove up sale prices, and surging mortgage rates have made home loans more expensive.

Surging mortgage rates make home buying more expensive in Des Moines

Illustration of a doctor's hands holding a small house with a sales tag
Illustration: Annelise Capossela/Axios

Mortgage rates have surpassed 5% — their highest in more than a decade, according to data shared by Freddie Mac.

Why it matters: Low mortgage rates made buying in a sellers' market more affordable in the pandemic.

What $300K gets you in Des Moines real estate

Outside of home at 913 SE Laurie Ln, Ankeny, IA
You weren't in time to buy this beauty: 913 SE Laurie Ln., in Ankeny. Photo courtesy of Danielle Seifert

The median home sales price in Des Moines is $234,900, as of February.

  • So we looked into what you can get around that price point in the metro's real estate market.
Linh Ta
Feb 24, 2022 - Real Estate

West Des Moines considers unique house rental development

An aerial view of a Picket Fence development
An aerial view of a Phoenix development by Picket Fence Communities. The WDM property is expected to look similar. Photo courtesy of Picket Fenced

West Des Moines is considering approving a development of single-family rental homes that the city says would be unique in the Midwest.

Why it matters: The proposed 21-acre development near Jordan Creek Town Center could help fill a housing gap, especially as Des Moines' suburbs consider how to not only attract employees but encourage them to live there.

Linh Ta
Feb 11, 2022 - Real Estate

Polk County's biggest house is up for sale

Polk County's largest house aerial view
The home at 3800 Fuller Road in West Des Moines is available for $8.9 million. Photo courtesy of Shane Kennedy of eXp Realty

If you're looking for a home that can fit all of your friends and all of their friends — look no further than more than 10,000-square-foot property in West Des Moines.

State of play: The home is the largest private residence in Polk County — and it's a stunner with its own private gated fence, marble floors and 20-foot ceilings.

Des Moines sets record home sales in 2021

Data: Des Moines Area Association of Realtors MLS & Les Sulgrove; Chart: Axios Visuals

Des Moines' real estate market is hot.

  • The city saw nearly 17,500 home sales last year, worth a record $4.8 billion, according to data from the Des Moines Area Association of Realtors (DMAAR).

What's happening: The pandemic catapulted the home sales market, former DMAAR president Les Sulgrove said in a recent video posted to his real estate market website.

Linh Ta
Feb 1, 2022 - Real Estate

New modern apartment complex The Meridian coming to Des Moines

The Meridian apartments
A rendering of The Meridian by Sherman Associates. Rendering courtesy of Sherman Associates

Play golf in a sports simulator room or grill out on the rooftop at a new upscale apartment complex opening near downtown Des Moines.

What's happening: Sherman Associates is developing a five-story, 174-unit complex called "The Meridian" at Gray's Landing, just south of its other apartments at The Nexus.

  • It’s a part of Sherman Associates' multiphase plan of building a blend of residential and commercial properties in an area once blighted by a nearby industrial site.
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