Is Adel, IA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Adel has remained a Seller's Market.
Key Takeaway
Adel is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Adel, IA
How much do homes in Adel, IA cost?
Median Sold Price
$364,495
$230/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Adel have sold for 2.8% less than they did a year ago.
Summary: The median home sold price in Adel was $364,495 in May 2024, down 2.8% from last year, and the median price per square foot was $230.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $360K | N/A |
| 2 Bedrooms | $170K | $169.5K | -0.3% |
| 3 Bedrooms | $287.7K | $330K | +14.7% |
| 4 Bedrooms | $379K | $375K | -1.1% |
| 5+ Bedrooms | $519.9K | $605K | +16.4% |
Summary: Adel housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 0.3%, 3 bedroom homes increased by 14.7%, 4 bedroom homes decreased by 1.1%, and 5+ bedroom homes increased by 16.4%.
Median Sold Price Compared To Nearby Cities
| Adel Township | $340K | $355K | +4.4% |
| Van Meter Township | $313K | $304.9K | -2.6% |
| Adel | $374.9K | $364.4K | -2.8% |
Housing Supply in Adel, IA
How many homes are available in Adel, IA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 94 | 97 | +3.2% |
Summary: The Adel real estate market had 97 homes for sale in May 2024, a 3.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 4 | 3 | -25.0% |
| 3 Bedrooms | 22 | 24 | +9.1% |
| 4 Bedrooms | 51 | 50 | -2.0% |
| 5+ Bedrooms | 16 | 19 | +18.8% |
Summary: The Adel housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 25%, 3 bedroom homes increased by 9.1%, 4 bedroom homes decreased by 2%, and 5+ bedroom homes increased by 18.8%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 13 | 18 | +38.5% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Adel, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 18 homes were sold or pending in Adel in May 2024, up by 38.5% month-over-month. Of the 18 sold homes, 50% were sold under asking, 28% were sold at asking, and 22% were sold over asking.
Days on Market for Adel, IA
How long does it take to sell a home in Adel, IA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 125 Days | 69 Days | -44.5% |
Summary: Homes in Adel had an average of 69 days on market in May 2024, down by 44.5% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Adel are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 18 homes were sold in Adel; 44% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
