Is Cumming, IA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Cumming was a Buyer's Market.
Key Takeaway
Cumming is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cumming, IA
How much do homes in Cumming, IA cost?
Median Sold Price
$519,900
$298/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Cumming have sold for 10.3% less than they did a year ago.
Summary: The median home sold price in Cumming was $519,900 in May 2024, down 10.3% from last year, and the median price per square foot was $298.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $510.2K | - | N/A |
| 3 Bedrooms | $481.2K | $418.5K | -13.0% |
| 4 Bedrooms | $573.6K | $519.9K | -9.4% |
| 5+ Bedrooms | $675.5K | $612.1K | -9.4% |
Summary: Cumming 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 did not change, 3 bedroom homes decreased by 13%, 4 bedroom homes decreased by 9.4%, and 5+ bedroom homes decreased by 9.4%.
Median Sold Price Compared To Nearby Cities
| Linn Township | $299.9K | $331.6K | +10.6% |
| West Des Moines | $299.5K | $310.1K | +3.5% |
| Cumming | $579.6K | $519.9K | -10.3% |
| Cumming | $617.5K | $550.7K | -10.8% |
Housing Supply in Cumming, IA
How many homes are available in Cumming, IA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 34 | 38 | +11.8% |
Summary: The Cumming real estate market had 38 homes for sale in May 2024, a 11.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 6 | 7 | +16.7% |
| 4 Bedrooms | 15 | 15 | 0.0% |
| 5+ Bedrooms | 12 | 15 | +25.0% |
Summary: The Cumming 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 remained the same, 3 bedroom homes increased by 16.7%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1 | 7 | +600.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cumming, you could pay more than the asking price. 71.4% of homes here sold above asking price last month.
Summary: A total of 7 homes were sold or pending in Cumming in May 2024, up by 600.0% month-over-month. Of the 7 sold homes, 29% were sold under asking, 0% were sold at asking, and 71% were sold over asking.
Days on Market for Cumming, IA
How long does it take to sell a home in Cumming, IA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 87 Days | 9 Days | -88.9% |
Summary: Homes in Cumming had an average of 9 days on market in May 2024, down by 88.9% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Cumming are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 7 homes were sold in Cumming; 86% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
