$2,968 Closing Credit*
$249,900
1,956 SqFt
3 Beds
•2 Full Baths
Matt Smith, Listing Office: RE/MAX CONCEPTS
Is Solon, 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, Solon was a Buyer's Market.
Key Takeaway
Solon is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Solon, IA
How much do homes in Solon, IA cost?
Median Sold Price
$389,900
$166/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$55,000(+16.4%)
Key Takeaway
Homes in Solon have sold for 16.4% more than they did a year ago.
Summary: The median home sold price in Solon was $389,900 in November 2024, up 16.4% from last year, and the median price per square foot was $166.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $150K | $349.9K | +133.3% |
| 3 Bedrooms | $260.3K | $296K | +13.7% |
| 4 Bedrooms | $379.9K | $402K | +5.8% |
| 5+ Bedrooms | $582.9K | $584.9K | 0.3% |
Summary: Solon 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 133.3%, 3 bedroom homes increased by 13.7%, 4 bedroom homes increased by 5.8%, and 5+ bedroom homes increased by 0.3%.
Median Sold Price Compared To Nearby Cities
| Big Grove Township | $299.9K | $357.4K | +19.2% |
| Solon | $334.9K | $389.9K | +16.4% |
Housing Supply in Solon, IA
How many homes are available in Solon, IA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 33 | 27 | -18.2% |
Summary: The Solon real estate market had 27 homes for sale in November 2024, a 18.2% 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 | 1 | 0 | -100.0% |
| 3 Bedrooms | 10 | 9 | -10.0% |
| 4 Bedrooms | 12 | 10 | -16.7% |
| 5+ Bedrooms | 10 | 8 | -20.0% |
Summary: The Solon 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 100%, 3 bedroom homes decreased by 10%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 8 | 6 | -25.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Solon, 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 Solon in November 2024, down by 25.0% month-over-month. Of the 6 sold homes, 67% were sold under asking, 17% were sold at asking, and 17% were sold over asking.
Days on Market for Solon, IA
How long does it take to sell a home in Solon, IA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 90 Days | 68 Days | -24.3% |
Summary: Homes in Solon had an average of 68 days on market in Nov 2024, down by 24.3% compared to last year.
Breakdown of Home Sale Times
3 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 Solon are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 6 homes were sold in Solon; 50% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 17% 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.