$400,000
1.52 Acres
Land
•1 Full Bath
Mariah Klemp, Listing Office: RE/MAX Concepts
Is Madrid, 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, Madrid was a Buyer's Market.
Key Takeaway
Madrid is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Madrid, IA
How much do homes in Madrid, IA cost?
Median Sold Price
$262,500
$233/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$32,500(-11.0%)
Key Takeaway
Homes in Madrid have sold for 11% less than they did a year ago.
Summary: The median home sold price in Madrid was $262,500 in November 2024, down 11% from last year, and the median price per square foot was $233.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $193.4K | N/A |
| 2 Bedrooms | $212.7K | $191.7K | -9.9% |
| 3 Bedrooms | $296K | $260K | -12.2% |
| 4 Bedrooms | $333.5K | $300.7K | -9.8% |
| 5+ Bedrooms | $500.6K | $370K | -26.1% |
Summary: Madrid housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 9.9%, 3 bedroom homes decreased by 12.2%, 4 bedroom homes decreased by 9.8%, and 5+ bedroom homes decreased by 26.1%.
Housing Supply in Madrid, IA
How many homes are available in Madrid, IA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 18 | 18 | 0.0% |
Summary: The Madrid real estate market had 18 homes for sale in November 2024, the same as October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 3 | -25.0% |
| 3 Bedrooms | 5 | 7 | +40.0% |
| 4 Bedrooms | 8 | 7 | -12.5% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Madrid housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 25%, 3 bedroom homes increased by 40%, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 5 | 4 | -20.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Madrid, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Madrid in November 2024, down by 20.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Madrid, IA
How long does it take to sell a home in Madrid, IA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 3 Days | 105 Days | +3425.0% |
Summary: Homes in Madrid had an average of 105 days on market in Nov 2024, up by 3425% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Madrid are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During November 2024, 4 homes were sold in Madrid; 25% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 50% 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.