$7,421 Closing Credit*
$624,900
2,919 SqFt
5 Beds
•3 Full Baths, 1 Partial
David Vahle, Listing Office: Navigate Homes
Is Iowa City, IA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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
$302,500
$169/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$2,500(+0.8%)
Key Takeaway
Homes in Iowa City have sold for 0.8% more than they did a year ago.
Summary: The median home sold price in Iowa City was $302,500 in November 2024, up 0.8% from last year, and the median price per square foot was $169.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $292.5K | $172K | -41.2% |
| 2 Bedrooms | $182K | $196K | +7.7% |
| 3 Bedrooms | $272K | $245K | -9.9% |
| 4 Bedrooms | $359.9K | $378K | +5.0% |
| 5+ Bedrooms | $466.3K | $486.2K | +4.3% |
Summary: Iowa City housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 41.2%, 2 bedroom homes increased by 7.7%, 3 bedroom homes decreased by 9.9%, 4 bedroom homes increased by 5%, and 5+ bedroom homes increased by 4.3%.
Housing Supply in Iowa City, IA
How many homes are available in Iowa City, IA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 123 | 120 | -2.4% |
Summary: The Iowa City real estate market had 120 homes for sale in November 2024, a 2.4% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 5 | -16.7% |
| 2 Bedrooms | 29 | 22 | -24.1% |
| 3 Bedrooms | 45 | 47 | +4.4% |
| 4 Bedrooms | 24 | 25 | +4.2% |
| 5+ Bedrooms | 19 | 21 | +10.5% |
Summary: The Iowa City housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 16.7%, 2 bedroom homes decreased by 24.1%, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes increased by 10.5%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 18 | 18 | 0.0% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Iowa City, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 18 homes were sold or pending in Iowa City in November 2024, the same as the previous month. Of the 18 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 49 Days | 40 Days | -18.0% |
Summary: Homes in Iowa City had an average of 40 days on market in Nov 2024, down by 18% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 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 November 2024, 18 homes were sold in Iowa City; 39% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 11% 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.