$174,000
0.49 Acres
Land
Tammy Davidson, Listing Office: LPT Realty, LLC
Is Polk City, IA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Polk City was a Neutral Market.
Key Takeaway
Polk City is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Polk City, IA
How much do homes in Polk City, IA cost?
Median Sold Price
$408,990
$261/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$33,510(-7.6%)
Key Takeaway
Homes in Polk City have sold for 7.6% less than they did a year ago.
Summary: The median home sold price in Polk City was $408,990 in November 2024, down 7.6% from last year, and the median price per square foot was $261.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $265.7K | $202.5K | -23.8% |
| 3 Bedrooms | $309.9K | $314.7K | +1.6% |
| 4 Bedrooms | $515K | $429.9K | -16.5% |
| 5+ Bedrooms | $626.2K | $619.9K | -1.0% |
Summary: Polk City 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 decreased by 23.8%, 3 bedroom homes increased by 1.6%, 4 bedroom homes decreased by 16.5%, and 5+ bedroom homes decreased by 1%.
Median Sold Price Compared To Nearby Cities
| Crocker Township | $318.4K | $325.7K | +2.3% |
| Polk City | $442.5K | $408.9K | -7.6% |
| Madison Township | $424.9K | $388K | -8.7% |
| Lincoln Township | $505K | $449.9K | -10.9% |
Housing Supply in Polk City, IA
How many homes are available in Polk City, IA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 52 | 51 | -1.9% |
Summary: The Polk City real estate market had 51 homes for sale in November 2024, a 1.9% 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 | 4 | 3 | -25.0% |
| 3 Bedrooms | 10 | 10 | 0.0% |
| 4 Bedrooms | 28 | 28 | 0.0% |
| 5+ Bedrooms | 10 | 10 | 0.0% |
Summary: The Polk City 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 25%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 9 | 5 | -44.4% |
Asking Price vs. Sold Price
3 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 Polk City, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Polk City in November 2024, down by 44.4% month-over-month. Of the 5 sold homes, 60% were sold under asking, 0% were sold at asking, and 40% were sold over asking.
Days on Market for Polk City, IA
How long does it take to sell a home in Polk City, IA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 92 Days | 95 Days | +3.3% |
Summary: Homes in Polk City had an average of 95 days on market in Nov 2024, up by 3.3% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Polk City are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 5 homes were sold in Polk City; 40% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
