$3,680 Closing Credit*
$309,900
2,191 SqFt
4 Beds
•3 Full Baths
Anthony Lueken, Listing Office: Epique Realty
Is Palo, IA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 2023
Since last year, Palo has remained a Buyer's Market.
Key Takeaway
Palo is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Palo, IA
How much do homes in Palo, IA cost?
Median Sold Price
$295,894
$142/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2023
-$28,105(-8.7%)
Key Takeaway
Homes in Palo have sold for 8.7% less than they did a year ago.
Summary: The median home sold price in Palo was $295,894 in December 2024, down 8.7% from last year, and the median price per square foot was $142.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $20K | N/A |
| 2 Bedrooms | $215K | - | N/A |
| 3 Bedrooms | $269.9K | $254.9K | -5.6% |
| 4 Bedrooms | $340.5K | $334.9K | -1.6% |
| 5+ Bedrooms | $395K | $372.5K | -5.7% |
Summary: Palo housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 5.6%, 4 bedroom homes decreased by 1.6%, and 5+ bedroom homes decreased by 5.7%.
Median Sold Price Compared To Nearby Cities
| Fayette Township | $315.9K | $288.8K | -8.6% |
| Palo | $324K | $295.8K | -8.7% |
Housing Supply in Palo, IA
How many homes are available in Palo, IA?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 23 | 22 | -4.3% |
Summary: The Palo real estate market had 22 homes for sale in December 2024, a 4.3% decrease compared to November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 18 | 16 | -11.1% |
| 4 Bedrooms | 4 | 5 | +25.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Palo housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 11.1%, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 5 | 2 | -60.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Palo, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Palo in December 2024, down by 60.0% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Palo, IA
How long does it take to sell a home in Palo, IA?
Average Sale Time
| Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|
| 14 Days | 98 Days | +603.6% |
Summary: Homes in Palo had an average of 98 days on market in Dec 2024, up by 603.6% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Palo has remained consistent over time.
Summary: During December 2024, 2 homes were sold in Palo; 0% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 50% 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.