Is Lake Prairie Township, IA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Lake Prairie Township has remained a Seller's Market.
Key Takeaway
Lake Prairie Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lake Prairie Township, IA
How much do homes in Lake Prairie Township, IA cost?
Median Sold Price
$355,000
$239/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lake Prairie Township have sold for 17.5% more than they did a year ago.
Summary: The median home sold price in Lake Prairie Township was $355,000 in May 2024, up 17.5% from last year, and the median price per square foot was $239.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $126.1K | $182K | +44.3% |
| 2 Bedrooms | $249.4K | $237K | -5.0% |
| 3 Bedrooms | $279.5K | $319.7K | +14.4% |
| 4 Bedrooms | $341.5K | $389K | +13.9% |
| 5+ Bedrooms | $437.5K | $565K | +29.1% |
Summary: Lake Prairie Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 44.3%, 2 bedroom homes decreased by 5%, 3 bedroom homes increased by 14.4%, 4 bedroom homes increased by 13.9%, and 5+ bedroom homes increased by 29.1%.
Median Sold Price Compared To Nearby Cities
| Lake Prairie Township | $302.2K | $355K | +17.5% |
| Pella | $313K | $359K | +14.7% |
| Summit Township | $368.7K | $374.5K | +1.6% |
Housing Supply in Lake Prairie Township, IA
How many homes are available in Lake Prairie Township, IA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 68 | 56 | -17.6% |
Summary: The Lake Prairie Township real estate market had 56 homes for sale in May 2024, a 17.6% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 6 | 5 | -16.7% |
| 3 Bedrooms | 23 | 19 | -17.4% |
| 4 Bedrooms | 25 | 20 | -20.0% |
| 5+ Bedrooms | 14 | 12 | -14.3% |
Summary: The Lake Prairie Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 16.7%, 3 bedroom homes decreased by 17.4%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes decreased by 14.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 15 | 19 | +26.7% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lake Prairie Township, you may be able to get a good deal. 47.4% of homes here sold below asking price last month.
Summary: A total of 19 homes were sold or pending in Lake Prairie Township in May 2024, up by 26.7% month-over-month. Of the 19 sold homes, 47% were sold under asking, 37% were sold at asking, and 16% were sold over asking.
Days on Market for Lake Prairie Township, IA
How long does it take to sell a home in Lake Prairie Township, IA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 40 Days | 55 Days | +38.6% |
Summary: Homes in Lake Prairie Township had an average of 55 days on market in May 2024, up by 38.6% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lake Prairie Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 19 homes were sold in Lake Prairie Township; 58% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.
