Is Pella, IA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Pella has remained a Seller's Market.
Key Takeaway
Pella is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Pella, IA
How much do homes in Pella, IA cost?
Median Sold Price
$355,000
$236/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Pella have sold for 20.3% more than they did a year ago.
Summary: The median home sold price in Pella was $355,000 in April 2024, up 20.3% from last year, and the median price per square foot was $236.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $126.1K | $182K | +44.3% |
| 2 Bedrooms | $204.4K | $235K | +14.9% |
| 3 Bedrooms | $275.5K | $317.2K | +15.2% |
| 4 Bedrooms | $315.2K | $378.7K | +20.1% |
| 5+ Bedrooms | $432.5K | $564.8K | +30.6% |
Summary: Pella housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 44.3%, 2 bedroom homes increased by 14.9%, 3 bedroom homes increased by 15.2%, 4 bedroom homes increased by 20.1%, and 5+ bedroom homes increased by 30.6%.
Median Sold Price Compared To Nearby Cities
| Pella | $295K | $355K | +20.3% |
| Lake Prairie Township | $295K | $354.5K | +20.2% |
Housing Supply in Pella, IA
How many homes are available in Pella, IA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 78 | 74 | -5.1% |
Summary: The Pella real estate market had 74 homes for sale in April 2024, a 5.1% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 5 | +25.0% |
| 3 Bedrooms | 38 | 29 | -23.7% |
| 4 Bedrooms | 24 | 25 | +4.2% |
| 5+ Bedrooms | 12 | 15 | +25.0% |
Summary: The Pella housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 25%, 3 bedroom homes decreased by 23.7%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 11 | 13 | +18.2% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Pella, you could pay more than the asking price. 38.5% of homes here sold above asking price last month.
Summary: A total of 13 homes were sold or pending in Pella in April 2024, up by 18.2% month-over-month. Of the 13 sold homes, 31% were sold under asking, 31% were sold at asking, and 38% were sold over asking.
Days on Market for Pella, IA
How long does it take to sell a home in Pella, IA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 90 Days | 46 Days | -48.7% |
Summary: Homes in Pella had an average of 46 days on market in Apr 2024, down by 48.7% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Pella are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 13 homes were sold in Pella; 54% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 23% of homes were sold over 90 days.
