$2,244 Closing Credit*
$189,000
1,029 SqFt
2 Beds
•1 Full Bath
Bob Kalous, Listing Office: SKOGMAN REALTY
Is Cedar Rapids, IA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Cedar Rapids has remained a Seller's Market.
Key Takeaway
Cedar Rapids is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cedar Rapids, IA
How much do homes in Cedar Rapids, IA cost?
Median Sold Price
$197,732
$127/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$12,732(+6.9%)
Key Takeaway
Homes in Cedar Rapids have sold for 6.9% more than they did a year ago.
Summary: The median home sold price in Cedar Rapids was $197,732 in October 2024, up 6.9% from last year, and the median price per square foot was $127.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $90K | $128.5K | +42.8% |
| 2 Bedrooms | $130.2K | $140K | +7.5% |
| 3 Bedrooms | $185K | $196.5K | +6.2% |
| 4 Bedrooms | $270.2K | $269.6K | -0.2% |
| 5+ Bedrooms | $380K | $391.5K | +3.0% |
Summary: Cedar Rapids housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 42.8%, 2 bedroom homes increased by 7.5%, 3 bedroom homes increased by 6.2%, 4 bedroom homes decreased by 0.2%, and 5+ bedroom homes increased by 3%.
Median Sold Price Compared To Nearby Cities
| Marion Township | $249.9K | $275K | +10.0% |
| Cedar Rapids | $185K | $197.7K | +6.9% |
| Monroe Township | $316K | $325K | +2.8% |
| Hiawatha | $316K | $245K | -22.5% |
Housing Supply in Cedar Rapids, IA
How many homes are available in Cedar Rapids, IA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 674 | 678 | +0.6% |
Summary: The Cedar Rapids real estate market had 678 homes for sale in October 2024, a 0.6% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 10 | 7 | -30.0% |
| 2 Bedrooms | 165 | 161 | -2.4% |
| 3 Bedrooms | 298 | 304 | +2.0% |
| 4 Bedrooms | 161 | 160 | -0.6% |
| 5+ Bedrooms | 40 | 46 | +15.0% |
Summary: The Cedar Rapids housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 30%, 2 bedroom homes decreased by 2.4%, 3 bedroom homes increased by 2%, 4 bedroom homes decreased by 0.6%, and 5+ bedroom homes increased by 15%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 186 | 150 | -19.4% |
Asking Price vs. Sold Price
79 Homes Were Sold
Under Asking
34 Homes Were Sold
At Asking
37 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cedar Rapids, you may be able to get a good deal. 52.7% of homes here sold below asking price last month.
Summary: A total of 150 homes were sold or pending in Cedar Rapids in October 2024, down by 19.4% month-over-month. Of the 150 sold homes, 53% were sold under asking, 23% were sold at asking, and 25% were sold over asking.
Days on Market for Cedar Rapids, IA
How long does it take to sell a home in Cedar Rapids, IA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 24 Days | 24 Days | -0.2% |
Summary: Homes in Cedar Rapids had an average of 24 days on market in Oct 2024, down by 0.2% compared to last year.
Breakdown of Home Sale Times
105 Homes Were Sold
Under 30 Days
38 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Cedar Rapids are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 150 homes were sold in Cedar Rapids; 70% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
Provided Courtesy Of Cedar Rapids Area Association of REALTORS®. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information Is Believed To Be Accurate But Not Guaranteed.