$2,375 Closing Credit*
$200,000
1,437 SqFt
3 Beds
•2 Full Baths
Sarah Kingland, Listing Office: Keller Williams Legacy Group
Is Penn Township, 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, Penn Township has remained a Seller's Market.
Key Takeaway
Penn Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Penn Township, IA
How much do homes in Penn Township, IA cost?
Median Sold Price
$348,500
$164/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$26,100(+8.1%)
Key Takeaway
Homes in Penn Township have sold for 8.1% more than they did a year ago.
Summary: The median home sold price in Penn Township was $348,500 in November 2024, up 8.1% from last year, and the median price per square foot was $164.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $137.5K | $177K | +28.7% |
| 3 Bedrooms | $258.9K | $269.5K | +4.1% |
| 4 Bedrooms | $385K | $398.4K | +3.5% |
| 5+ Bedrooms | $535K | $550K | +2.8% |
Summary: Penn Township 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 28.7%, 3 bedroom homes increased by 4.1%, 4 bedroom homes increased by 3.5%, and 5+ bedroom homes increased by 2.8%.
Median Sold Price Compared To Nearby Cities
| Penn Township | $322.4K | $348.5K | +8.1% |
| North Liberty | $299.9K | $312.5K | +4.2% |
Housing Supply in Penn Township, IA
How many homes are available in Penn Township, IA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 60 | 47 | -21.7% |
Summary: The Penn Township real estate market had 47 homes for sale in November 2024, a 21.7% 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 | 9 | 5 | -44.4% |
| 3 Bedrooms | 17 | 16 | -5.9% |
| 4 Bedrooms | 21 | 14 | -33.3% |
| 5+ Bedrooms | 13 | 12 | -7.7% |
Summary: The Penn Township 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 44.4%, 3 bedroom homes decreased by 5.9%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes decreased by 7.7%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 16 | 9 | -43.8% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Penn Township, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Penn Township in November 2024, down by 43.8% month-over-month. Of the 9 sold homes, 56% were sold under asking, 33% were sold at asking, and 11% were sold over asking.
Days on Market for Penn Township, IA
How long does it take to sell a home in Penn Township, IA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 54 Days | 32 Days | -40.0% |
Summary: Homes in Penn Township had an average of 32 days on market in Nov 2024, down by 40% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Penn Township are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 9 homes were sold in Penn Township; 56% of homes were sold within 30 days, 44% 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.