Is Polk City, IA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Polk City was a Buyer's Market.
Housing Prices in Polk City, IA
How much do homes in Polk City, IA cost?
Median Sold Price
$436,000
$256/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Polk City was $436,000 in May 2024, down 0.3% from last year, and the median price per square foot was $256.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $278.7K | $246K | -11.7% |
3 Bedrooms | $304.4K | $309.9K | +1.8% |
4 Bedrooms | $526.8K | $469.9K | -10.8% |
5+ Bedrooms | $646.4K | $617.4K | -4.5% |
Summary: Polk City housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 11.7%, 3 bedroom homes increased by 1.8%, 4 bedroom homes decreased by 10.8%, and 5+ bedroom homes decreased by 4.5%.
Median Sold Price Compared To Nearby Cities
Lincoln Township | $445K | $508.5K | +14.3% |
Crocker Township | $315.6K | $325.3K | +3.1% |
Madison Township | $413.6K | $418K | +1.0% |
Polk City | $437.5K | $436K | -0.3% |
Housing Supply in Polk City, IA
How many homes are available in Polk City, IA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
55 | 53 | -3.6% |
Summary: The Polk City real estate market had 53 homes for sale in May 2024, a 3.6% 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 | 3 | 4 | +33.3% |
3 Bedrooms | 16 | 15 | -6.3% |
4 Bedrooms | 24 | 22 | -8.3% |
5+ Bedrooms | 12 | 12 | 0.0% |
Summary: The Polk City 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 increased by 33.3%, 3 bedroom homes decreased by 6.3%, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
8 | 14 | +75.0% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 14 homes were sold or pending in Polk City in May 2024, up by 75.0% month-over-month. Of the 14 sold homes, 79% were sold under asking, 7% were sold at asking, and 14% were sold over asking.
Days on Market for Polk City, IA
How long does it take to sell a home in Polk City, IA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
36 Days | 86 Days | +138.2% |
Summary: Homes in Polk City had an average of 86 days on market in May 2024, up by 138.2% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During May 2024, 14 homes were sold in Polk City; 57% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 36% of homes were sold over 90 days.