Des Moines Highest Sale of the Month at $1.25 Million on Grand Avenue Resets Local Comparables

A four-bedroom residence at 4521 Grand Avenue sold for $1.25 million at the Des Moines Board of Realtors auction on July 3, marking the highest residential sale recorded in the city this month.

The transaction matters because it occurred against a backdrop of national uncertainty that has kept some buyers on the sidelines while others moved quickly on limited inventory in established neighborhoods. Clearance rates across Des Moines auctions fell to 68 percent in June, down from 74 percent in May, according to data compiled by the Des Moines Board of Realtors.

Properties along Grand Avenue sit within walking distance of the Iowa State Capitol grounds and the East Village commercial corridor. The sold home featured a 1912 brick exterior and a detached garage that backs onto an alley shared with three other listings currently under contract through the same brokerage.

Comparable Sales Shift

Before the July 3 closing, the prior monthly high stood at $980,000 for a home two blocks west on the same street. Appraisers have already adjusted upward the estimated values for three pending sales on adjacent blocks, with one property at 4608 Grand Avenue now listed at $1.05 million after an initial asking price of $925,000.

Median sale prices in the Sherman Hill neighborhood reached $312,000 through the first half of 2026, a 6 percent increase over the same period last year. The Board of Realtors recorded 142 auction listings in June, of which 97 found buyers on the day.

Next Steps for Sellers and Buyers

Two additional high-value properties are scheduled for auction on July 15 at the Des Moines Art Center auditorium. Sellers preparing listings for those dates have been advised by local agents to review recent Grand Avenue comps before setting reserves. Prospective bidders can review the full packet of inspection reports through the Board of Realtors online portal beginning July 10.

This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.