$1,538 Closing Credit*
$129,500
843 SqFt
2 Beds
•1 Full Bath
Paul Canas, Listing Office: Pinnacle Realty LLC
Is Northwest Area, IA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2023
At the same time last year, Northwest Area was a Seller's Market.
Key Takeaway
Northwest Area is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Northwest Area, IA
How much do homes in Northwest Area, IA cost?
Median Sold Price
$135,000
$119/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
-$2,250(-1.6%)
Key Takeaway
Homes in Northwest Area have sold for 1.6% less than they did a year ago.
Summary: The median home sold price in Northwest Area was $135,000 in September 2024, down 1.6% from last year, and the median price per square foot was $119.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $70K | $110K | +57.1% |
| 2 Bedrooms | $119K | $125K | +5.0% |
| 3 Bedrooms | $160K | $145K | -9.4% |
| 4 Bedrooms | $163K | $155K | -4.9% |
| 5+ Bedrooms | $175K | - | N/A |
Summary: Northwest Area housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 57.1%, 2 bedroom homes increased by 5%, 3 bedroom homes decreased by 9.4%, 4 bedroom homes decreased by 4.9%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Taylor | $118K | $131.4K | +11.4% |
| Northwest Area | $137.2K | $135K | -1.6% |
Housing Supply in Northwest Area, IA
How many homes are available in Northwest Area, IA?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 23 | 24 | +4.3% |
Summary: The Northwest Area real estate market had 24 homes for sale in September 2024, a 4.3% increase compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 10 | 13 | +30.0% |
| 3 Bedrooms | 8 | 6 | -25.0% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Northwest Area 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 increased by 30%, 3 bedroom homes decreased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 5 | 3 | -40.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Northwest Area, 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 Northwest Area in September 2024, down by 40.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for Northwest Area, IA
How long does it take to sell a home in Northwest Area, IA?
Average Sale Time
| Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 19 Days | 15 Days | -22.6% |
Summary: Homes in Northwest Area had an average of 15 days on market in Sep 2024, down by 22.6% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Northwest Area are selling fast, if you're buying plan to act quickly.
Summary: During September 2024, 3 homes were sold in Northwest Area; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% 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.