$3,301 Closing Credit*
$278,000
1,556 SqFt
3 Beds
•2 Full Baths
James McClain II, Listing Office: COLDWELL BANKER HEDGES
Is Marion, 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, Marion has remained a Seller's Market.
Key Takeaway
Marion is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Marion, IA
How much do homes in Marion, IA cost?
Median Sold Price
$268,450
$138/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$20,033(+8.1%)
Key Takeaway
Homes in Marion have sold for 8.1% more than they did a year ago.
Summary: The median home sold price in Marion was $268,450 in October 2024, up 8.1% from last year, and the median price per square foot was $138.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $85K | $126.5K | +48.8% |
| 2 Bedrooms | $160.5K | $167.5K | +4.3% |
| 3 Bedrooms | $225K | $240.5K | +6.9% |
| 4 Bedrooms | $305K | $330K | +8.2% |
| 5+ Bedrooms | $432.5K | $479.9K | +11.0% |
Summary: Marion housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 48.8%, 2 bedroom homes increased by 4.3%, 3 bedroom homes increased by 6.9%, 4 bedroom homes increased by 8.2%, and 5+ bedroom homes increased by 11%.
Median Sold Price Compared To Nearby Cities
| Marion Township | $249.9K | $275K | +10.0% |
| Marion | $248.4K | $268.4K | +8.1% |
| Cedar Rapids | $185K | $197.7K | +6.9% |
Housing Supply in Marion, IA
How many homes are available in Marion, IA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 206 | 214 | +3.9% |
Summary: The Marion real estate market had 214 homes for sale in October 2024, a 3.9% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 1 | -66.7% |
| 2 Bedrooms | 37 | 40 | +8.1% |
| 3 Bedrooms | 80 | 83 | +3.8% |
| 4 Bedrooms | 53 | 52 | -1.9% |
| 5+ Bedrooms | 33 | 38 | +15.2% |
Summary: The Marion housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 66.7%, 2 bedroom homes increased by 8.1%, 3 bedroom homes increased by 3.8%, 4 bedroom homes decreased by 1.9%, and 5+ bedroom homes increased by 15.2%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 41 | 48 | +17.1% |
Asking Price vs. Sold Price
22 Homes Were Sold
Under Asking
21 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Marion, you may be able to get a good deal. 45.8% of homes here sold below asking price last month.
Summary: A total of 48 homes were sold or pending in Marion in October 2024, up by 17.1% month-over-month. Of the 48 sold homes, 46% were sold under asking, 44% were sold at asking, and 10% were sold over asking.
Days on Market for Marion, IA
How long does it take to sell a home in Marion, IA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 22 Days | 37 Days | +65.8% |
Summary: Homes in Marion had an average of 37 days on market in Oct 2024, up by 65.8% compared to last year.
Breakdown of Home Sale Times
32 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Marion are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 48 homes were sold in Marion; 67% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 17% 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.