$3,319 Closing Credit*
$279,500
1,339 SqFt
3 Beds
•1 Full Bath
Elizabeth Cabral, Listing Office: Iowa Realty Mills Crossing
Is Merle Hay, IA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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
$219,900
$211/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$13,400(+6.5%)
Key Takeaway
Homes in Merle Hay have sold for 6.5% more than they did a year ago.
Summary: The median home sold price in Merle Hay was $219,900 in November 2024, up 6.5% from last year, and the median price per square foot was $211.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $100K | $140K | +40.0% |
| 2 Bedrooms | $170K | $185K | +8.8% |
| 3 Bedrooms | $223.9K | $228.5K | +2.0% |
| 4 Bedrooms | $259K | $277K | +6.9% |
| 5+ Bedrooms | $417.5K | $277.4K | -33.5% |
Summary: Merle Hay housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 40%, 2 bedroom homes increased by 8.8%, 3 bedroom homes increased by 2%, 4 bedroom homes increased by 6.9%, and 5+ bedroom homes decreased by 33.5%.
Median Sold Price Compared To Nearby Neighborhoods
| Waveland Park | $250K | $287.5K | +15.0% |
| Meredith | $258.7K | $288.1K | +11.3% |
| Merle Hay | $206.5K | $219.9K | +6.5% |
| Beaverdale | $240.9K | $240K | -0.4% |
Housing Supply in Merle Hay, IA
How many homes are available in Merle Hay, IA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 67 | 61 | -9.0% |
Summary: The Merle Hay real estate market had 61 homes for sale in November 2024, a 9.0% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 24 | 19 | -20.8% |
| 3 Bedrooms | 25 | 25 | 0.0% |
| 4 Bedrooms | 17 | 16 | -5.9% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Merle Hay 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 20.8%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 5.9%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 19 | 16 | -15.8% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Merle Hay, you may be able to get a good deal. 43.8% of homes here sold below asking price last month.
Summary: A total of 16 homes were sold or pending in Merle Hay in November 2024, down by 15.8% month-over-month. Of the 16 sold homes, 44% were sold under asking, 44% were sold at asking, and 13% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 25 Days | 37 Days | +45.6% |
Summary: Homes in Merle Hay had an average of 37 days on market in Nov 2024, up by 45.6% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Merle Hay are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 16 homes were sold in Merle Hay; 63% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
