Is Merle Hay, IA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Merle Hay is a seller's market

Buyer's
Market

Difference Since September 2023

Since last year, Merle Hay has remained a Seller's Market.

Key Takeaway

Merle Hay is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Merle Hay, IA

How much do homes in Merle Hay, IA cost?

Median Sold Price

$216,000

$208/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$8,500(+4.1%)

Key Takeaway

Homes in Merle Hay have sold for 4.1% more than they did a year ago.

Summary: The median home sold price in Merle Hay was $216,000 in September 2024, up 4.1% from last year, and the median price per square foot was $208.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $85K$140K
+64.7%
2 $170K$181.2K
+6.6%
3 $220K$227.4K
+3.4%
4 $252K$277.5K
+10.1%
5+ $762.5K$259.9K
-65.9%

Summary: Merle Hay housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 64.7%, 2 bedroom homes increased by 6.6%, 3 bedroom homes increased by 3.4%, 4 bedroom homes increased by 10.1%, and 5+ bedroom homes decreased by 65.9%.

Median Sold Price Compared To Nearby Neighborhoods

Meredith
+12.1%
Waveland Park
+10.0%
Merle Hay
+4.1%
Beaverdale
-0.3%

Housing Supply in Merle Hay, IA

How many homes are available in Merle Hay, IA?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
6457-10.9%

Summary: The Merle Hay real estate market had 57 homes for sale in September 2024, a 10.9% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 2117
-19.0%
3 2827
-3.6%
4 1212
0.0%
5+ 31
-66.7%

Summary: The Merle Hay housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 19%, 3 bedroom homes decreased by 3.6%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 66.7%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
2011-45.0%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Merle Hay, you may be able to get a good deal. 45.5% of homes here sold below asking price last month.

Summary: A total of 11 homes were sold or pending in Merle Hay in September 2024, down by 45.0% month-over-month. Of the 11 sold homes, 45% were sold under asking, 45% were sold at asking, and 9% were sold over asking.

Days on Market for Merle Hay, IA

How long does it take to sell a home in Merle Hay, IA?

Average Sale Time

Sep 2023Sep 2024CHANGE
19 Days15 Days-17.7%

Summary: Homes in Merle Hay had an average of 15 days on market in Sep 2024, down by 17.7% compared to last year.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Merle Hay are selling fast, if you're buying plan to act quickly.

Summary: During September 2024, 11 homes were sold in Merle Hay; 73% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 30 Days Ago

Newest Listings in Merle Hay, IA

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