$1,781 Closing Credit*
$150,000
907 SqFt
3 Beds
•1 Full Bath
Tami Timm, Listing Office: COLDWELL BANKER HEDGES
Is Palo, IA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Palo was a Buyer's Market.
Key Takeaway
Palo is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Palo, IA
How much do homes in Palo, IA cost?
Median Sold Price
$259,745
$149/sqft
Based on all homes sold in November 2024.
Difference Since Last Month
+$3,956(+1.5%)
Key Takeaway
Homes in Palo have sold for 1.5% more than they did a month ago.
Summary: The median home sold price in Palo was $259,745 in November 2024, up 1.5% from last month, and the median price per square foot was $149.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $230.8K | $237.5K | +2.9% |
| 4 Bedrooms | $291.7K | $395K | +35.4% |
| 5+ Bedrooms | - | - | N/A |
Summary: Palo housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 2.9%, 4 bedroom homes increased by 35.4%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Palo | $255.7K | $259.7K | +1.5% |
| Fayette Township | $255.7K | $259.7K | +1.5% |
Housing Supply in Palo, IA
How many homes are available in Palo, IA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 27 | 25 | -7.4% |
Summary: The Palo real estate market had 25 homes for sale in November 2024, a 7.4% 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 | 0 | 0 | 0.0% |
| 3 Bedrooms | 20 | 19 | -5.0% |
| 4 Bedrooms | 6 | 5 | -16.7% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Palo 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 remained the same, 3 bedroom homes decreased by 5%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 3 | 6 | +100.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 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. 66.7% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Palo in November 2024, up by 100.0% month-over-month. Of the 6 sold homes, 67% were sold under asking, 33% 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
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 122 Days | 119 Days | -2.3% |
Summary: Homes in Palo had an average of 119 days on market in Nov 2024, down by 2.3% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Palo are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During November 2024, 6 homes were sold in Palo; 17% of homes were sold within 30 days, 33% 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.