Recent real estate transactions in the Greater Des Moines area show continued activity in both residential and land sales. On January 20, the Jodie Hawley Trust purchased a nearly 9-acre property in Altoona from the Ferris Living Trust for $1.15 million. Just two days later, on January 22, Adam and Mariah Haynes acquired a property in Clive from Clayton and Chelsy Garrels for $2.3 million.
Residential and Land Sales
The Altoona property, located at 4175 NE 64th St., includes a 2,464-square-foot house built in 1963, a smaller 600-square-foot house built in 1966, a steel stable structure, and a metal utility building. The Clive property, at 3834 NW 177th Court, is a newer, two-story home completed in 2022, encompassing 3,732 square feet.
Multifamily Market Trends
Alongside these individual sales, a recent report indicates a growing supply of multifamily housing in the Des Moines area. More than 3,000 apartment units are currently under construction, with plans to begin construction on an additional 4,800 units over the next three years. This increased supply is expected to impact vacancy rates.
The multifamily vacancy rate at the end of 2025 is projected to be 7.3%, according to a report from CBRE Inc. This projection anticipates the effect of the new units coming online.
Frequently Asked Questions
What counties were involved in these real estate transactions?
The transactions involved properties in both Polk County (Altoona) and Dallas County (Clive).
How many new apartment units are planned for the Greater Des Moines area?
More than 3,000 units are currently being built, and an additional 4,800 units are planned to begin construction over the next three years.
When was the property in Clive built?
The two-story house at 3834 NW 177th Court in Clive was built in 2022.
How might these trends in residential and multifamily development shape the future of housing availability and affordability in the Greater Des Moines area?
