Will the Real Estate Frenzy in West Des Moines Ever Cool Down?

West Des Moines, Iowa’s fastest-growing city, is experiencing a real estate frenzy with rising home prices and demand. The city’s safe neighborhoods, top-ranked schools, and abundant amenities like beautifully maintained parks attract new residents. However, experts are still determining if this craze is sustainable or if the market is due for a cooldown. Experts predict strong home values in West Des Moines due to limited inventory and daily visitors, while others anticipate price stabilization. Time will tell whether this red-hot real estate market loses steam or the frenzy in West Des Moines will continue unabated. West Des Moines IA realtors Megan Mitchum + CO have seen the demand firsthand, with competitive bidding on homes for sale. Here are some reasons why this real estate trend will continue:

Buying a home in West Des Moines: Demand outpaces supply

High demand and extremely limited inventory are major factors fueling the competitive West Des Moines housing market. Record low mortgage rates have inspired many first-time homebuyers and families to purchase homes. However, construction needs to catch up, with building material shortages and labor issues preventing supply from meeting demand. This persistent imbalance between eager buyers and few available properties intensifies bidding wars.

Affordability declines, but the market is still strong

West Des Moines real estate market remains competitive despite rising prices and mortgage rates, with the average home price rising 14% last year to around $386,000. Mortgage rates have nearly doubled since 2020 but remain below historical averages. Des Moines’ growing employment and GDP should maintain its appeal despite significant rate hikes needed to reduce buyer enthusiasm and cool bidding wars.

Homes for sale in West Des Moines

West Des Moines housing market includes newly built suburban developments with single-family homes and older established neighborhoods. Home prices vary widely from affordable starter homes around $150,000 to luxury homes over $1 million. Popular features home buyers look for include updated kitchens and baths, spacious floor plans, finished basements, and amenities like swimming pools. 

West Des Moines real estate market

The West Des Moines real estate market has experienced steady growth and demand in recent years, largely due to job expansion and economic development in the Des Moines metro area. The combination of low supply and high demand means home values will likely continue to rise in the coming years. West Des Moines appears positioned for more population and real estate growth in the long term as the area expands its job market and infrastructure.

Lifestyle in West Des Moines

West Des Moines, an affluent suburb in the midwestern region, is renowned for its numerous amenities, making it a popular choice for young families. The Raccoon River offers numerous outdoor activities, including miles of walking and biking routes. The historic Valley Junction neighborhood provides quaint shops and dining in a small-town atmosphere. West Des Moines also features modern shopping and entertainment options like the Jordan Creek Town Center mall. West Des Moines is a popular choice for those looking for suburban comfort due to its affordable cost of living and relaxed atmosphere.