$8,668 Closing Credit*
$729,900
4,119 SqFt
Carrie Floss, Listing Office: Urban Acres Real Estate Corridor
Is Iowa City, IA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Iowa City was a Seller's Market.
Key Takeaway
Iowa City is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Iowa City, IA
How much do homes in Iowa City, IA cost?
Median Sold Price
$310,000
$169/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$10,000(+3.3%)
Key Takeaway
Homes in Iowa City have sold for 3.3% more than they did a year ago.
Summary: The median home sold price in Iowa City was $310,000 in October 2024, up 3.3% from last year, and the median price per square foot was $169.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $235K | $175K | -25.5% |
| 2 Bedrooms | $181K | $200K | +10.5% |
| 3 Bedrooms | $266.5K | $245K | -8.1% |
| 4 Bedrooms | $359.9K | $399.9K | +11.1% |
| 5+ Bedrooms | $475K | $474.4K | -0.1% |
Summary: Iowa City housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 25.5%, 2 bedroom homes increased by 10.5%, 3 bedroom homes decreased by 8.1%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes decreased by 0.1%.
Median Sold Price Compared To Nearby Cities
| Coralville | $325K | $355K | +9.2% |
| Iowa City | $300K | $310K | +3.3% |
Housing Supply in Iowa City, IA
How many homes are available in Iowa City, IA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 120 | 120 | 0.0% |
Summary: The Iowa City real estate market had 120 homes for sale in October 2024, the same as September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 6 | 0.0% |
| 2 Bedrooms | 31 | 29 | -6.5% |
| 3 Bedrooms | 45 | 45 | 0.0% |
| 4 Bedrooms | 25 | 23 | -8.0% |
| 5+ Bedrooms | 13 | 17 | +30.8% |
Summary: The Iowa City housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 6.5%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 8%, and 5+ bedroom homes increased by 30.8%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 17 | 20 | +17.6% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Iowa City, expect to pay close to the asking price. 45% of homes here sold near the asking price last month.
Summary: A total of 20 homes were sold or pending in Iowa City in October 2024, up by 17.6% month-over-month. Of the 20 sold homes, 30% were sold under asking, 45% were sold at asking, and 25% were sold over asking.
Days on Market for Iowa City, IA
How long does it take to sell a home in Iowa City, IA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 116 Days | 57 Days | -50.8% |
Summary: Homes in Iowa City had an average of 57 days on market in Oct 2024, down by 50.8% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Iowa City are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 20 homes were sold in Iowa City; 65% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 30% 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.