$37,500
0.52 Acres
Land
Laura Kemble, Listing Office: Sunset Realty
Is Panora, 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, Panora has remained a Seller's Market.
Key Takeaway
Panora is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Panora, IA
How much do homes in Panora, IA cost?
Median Sold Price
$593,000
$359/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$133,000(+28.9%)
Key Takeaway
Homes in Panora have sold for 28.9% more than they did a year ago.
Summary: The median home sold price in Panora was $593,000 in November 2024, up 28.9% from last year, and the median price per square foot was $359.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $133K | N/A |
| 2 Bedrooms | $232.5K | $386.6K | +66.3% |
| 3 Bedrooms | $500K | $549.4K | +9.9% |
| 4 Bedrooms | $538.9K | $650K | +20.6% |
| 5+ Bedrooms | $980K | $950K | -3.1% |
Summary: Panora housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 66.3%, 3 bedroom homes increased by 9.9%, 4 bedroom homes increased by 20.6%, and 5+ bedroom homes decreased by 3.1%.
Median Sold Price Compared To Nearby Cities
| Cass Township | $350K | $459.5K | +31.3% |
| Panora | $460K | $593K | +28.9% |
Housing Supply in Panora, IA
How many homes are available in Panora, IA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 34 | 26 | -23.5% |
Summary: The Panora real estate market had 26 homes for sale in November 2024, a 23.5% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 3 | 3 | 0.0% |
| 3 Bedrooms | 13 | 8 | -38.5% |
| 4 Bedrooms | 6 | 6 | 0.0% |
| 5+ Bedrooms | 11 | 8 | -27.3% |
Summary: The Panora 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 38.5%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 27.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 9 | 6 | -33.3% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Panora, 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 Panora in November 2024, down by 33.3% month-over-month. Of the 6 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for Panora, IA
How long does it take to sell a home in Panora, IA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 9 Days | 59 Days | +557.4% |
Summary: Homes in Panora had an average of 59 days on market in Nov 2024, up by 557.4% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Panora are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 6 homes were sold in Panora; 50% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
