$3,414 Closing Credit*
$287,500
1,953 SqFt
3 Beds
•3 Full Baths
Katie Chalupa, Listing Office: SKOGMAN REALTY
Is Penn Township, IA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 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 October 2023
+$40,500(+13.1%)
Key Takeaway
Homes in Penn Township have sold for 13.1% more than they did a year ago.
Summary: The median home sold price in Penn Township was $348,500 in October 2024, up 13.1% from last year, and the median price per square foot was $164.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $141K | $177K | +25.5% |
| 3 Bedrooms | $270K | $269.2K | -0.3% |
| 4 Bedrooms | $376.5K | $399.9K | +6.2% |
| 5+ Bedrooms | $535.5K | $540K | +0.8% |
Summary: Penn Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 25.5%, 3 bedroom homes decreased by 0.3%, 4 bedroom homes increased by 6.2%, and 5+ bedroom homes increased by 0.8%.
Median Sold Price Compared To Nearby Cities
| Madison Township | $279.9K | $344.4K | +23.1% |
| Penn Township | $308K | $348.5K | +13.1% |
| Coralville | $325K | $355K | +9.2% |
| North Liberty | $295K | $316.9K | +7.4% |
Housing Supply in Penn Township, IA
How many homes are available in Penn Township, IA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 58 | 62 | +6.9% |
Summary: The Penn Township real estate market had 62 homes for sale in October 2024, a 6.9% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 8 | 9 | +12.5% |
| 3 Bedrooms | 19 | 20 | +5.3% |
| 4 Bedrooms | 18 | 19 | +5.6% |
| 5+ Bedrooms | 13 | 14 | +7.7% |
Summary: The Penn Township housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 12.5%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes increased by 7.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 10 | 15 | +50.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Penn Township, expect to pay close to the asking price. 53.3% of homes here sold near the asking price last month.
Summary: A total of 15 homes were sold or pending in Penn Township in October 2024, up by 50.0% month-over-month. Of the 15 sold homes, 47% were sold under asking, 53% were sold at asking, and 0% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 46 Days | 47 Days | +3.0% |
Summary: Homes in Penn Township had an average of 47 days on market in Oct 2024, up by 3% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 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 October 2024, 15 homes were sold in Penn Township; 60% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 13% 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.