Is Merle Hay, 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, Merle Hay has remained a Seller's Market.
Housing Prices in Merle Hay, IA
How much do homes in Merle Hay, IA cost?
Median Sold Price
$215,000
$206/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Merle Hay was $215,000 in May 2024, up 7.5% from last year, and the median price per square foot was $206.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $127K | $122.9K | -3.2% |
2 Bedrooms | $165.5K | $185.7K | +12.2% |
3 Bedrooms | $216.4K | $230K | +6.3% |
4 Bedrooms | $250K | $267.5K | +7.0% |
5+ Bedrooms | $600K | $254.4K | -57.6% |
Summary: Merle Hay housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.2%, 2 bedroom homes increased by 12.2%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 7%, and 5+ bedroom homes decreased by 57.6%.
Median Sold Price Compared To Nearby Neighborhoods
Meredith | $240K | $280.7K | +17.0% |
Waveland Woods | $212K | $245K | +15.6% |
Merle Hay | $200K | $215K | +7.5% |
Waveland Park | $249K | $266.5K | +7.0% |
Beaverdale | $231.5K | $245K | +5.8% |
Housing Supply in Merle Hay, IA
How many homes are available in Merle Hay, IA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
58 | 55 | -5.2% |
Summary: The Merle Hay real estate market had 55 homes for sale in May 2024, a 5.2% decrease 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 | 23 | 23 | 0.0% |
3 Bedrooms | 25 | 21 | -16.0% |
4 Bedrooms | 6 | 7 | +16.7% |
5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Merle Hay 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 decreased by 16%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
17 | 23 | +35.3% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 23 homes were sold or pending in Merle Hay in May 2024, up by 35.3% month-over-month. Of the 23 sold homes, 39% were sold under asking, 30% were sold at asking, and 30% were sold over asking.
Days on Market for Merle Hay, IA
How long does it take to sell a home in Merle Hay, IA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
16 Days | 15 Days | -3.7% |
Summary: Homes in Merle Hay had an average of 15 days on market in May 2024, down by 3.7% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 23 homes were sold in Merle Hay; 83% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.