$1,780 Closing Credit*
$149,900
1,024 SqFt
2 Beds
•1 Full Bath
Bo Cosens, Listing Office: RE/MAX Precision
Is Madrid, 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, Madrid has remained a Seller'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
$265,000
$233/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$30,000(-10.2%)
Key Takeaway
Homes in Madrid have sold for 10.2% less than they did a year ago.
Summary: The median home sold price in Madrid was $265,000 in October 2024, down 10.2% from last year, and the median price per square foot was $233.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $193.4K | N/A |
| 2 Bedrooms | $208.5K | $176K | -15.6% |
| 3 Bedrooms | $295K | $262.5K | -11.0% |
| 4 Bedrooms | $353.5K | $301.6K | -14.7% |
| 5+ Bedrooms | $220K | $370K | +68.2% |
Summary: Madrid housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 15.6%, 3 bedroom homes decreased by 11%, 4 bedroom homes decreased by 14.7%, and 5+ bedroom homes increased by 68.2%.
Housing Supply in Madrid, IA
How many homes are available in Madrid, IA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 16 | 15 | -6.3% |
Summary: The Madrid real estate market had 15 homes for sale in October 2024, a 6.3% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 2 | -60.0% |
| 3 Bedrooms | 4 | 4 | 0.0% |
| 4 Bedrooms | 6 | 8 | +33.3% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Madrid 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 60%, 3 bedroom homes remained the same, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 3 | 3 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was 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. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Madrid in October 2024, the same as the previous month. Of the 3 sold homes, 67% were sold under asking, 33% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 39 Days | 58 Days | +48.8% |
Summary: Homes in Madrid had an average of 58 days on market in Oct 2024, up by 48.8% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Madrid are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 3 homes were sold in Madrid; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% 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.