Is Cedar Rapids, IA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Cedar Rapids has remained a Seller's Market.
Housing Prices in Cedar Rapids, IA
How much do homes in Cedar Rapids, IA cost?
Median Sold Price
$189,228
$124/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Cedar Rapids was $189,228 in April 2024, up 6.1% from last year, and the median price per square foot was $124.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $79.5K | $100.7K | +26.7% |
2 Bedrooms | $126.9K | $135K | +6.3% |
3 Bedrooms | $178.5K | $187.2K | +4.9% |
4 Bedrooms | $244K | $275K | +12.7% |
5+ Bedrooms | $375K | $390K | +4.0% |
Summary: Cedar Rapids housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 26.7%, 2 bedroom homes increased by 6.3%, 3 bedroom homes increased by 4.9%, 4 bedroom homes increased by 12.7%, and 5+ bedroom homes increased by 4%.
Median Sold Price Compared To Nearby Cities
Clinton Township | $115K | $126.9K | +10.3% |
Marion Township | $244.3K | $264.9K | +8.4% |
Cedar Rapids | $178.3K | $189.2K | +6.1% |
Monroe Township | $313.5K | $317K | +1.1% |
Housing Supply in Cedar Rapids, IA
How many homes are available in Cedar Rapids, IA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
533 | 541 | +1.5% |
Summary: The Cedar Rapids real estate market had 541 homes for sale in April 2024, a 1.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 7 | 9 | +28.6% |
2 Bedrooms | 122 | 121 | -0.8% |
3 Bedrooms | 252 | 252 | 0.0% |
4 Bedrooms | 110 | 119 | +8.2% |
5+ Bedrooms | 42 | 40 | -4.8% |
Summary: The Cedar Rapids housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 28.6%, 2 bedroom homes decreased by 0.8%, 3 bedroom homes remained the same, 4 bedroom homes increased by 8.2%, and 5+ bedroom homes decreased by 4.8%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
151 | 141 | -6.6% |
Asking Price vs. Sold Price
55 Homes Were Sold
Under Asking
44 Homes Were Sold
At Asking
42 Homes Were Sold
Over Asking
Summary: A total of 141 homes were sold or pending in Cedar Rapids in April 2024, down by 6.6% month-over-month. Of the 141 sold homes, 39% were sold under asking, 31% were sold at asking, and 30% were sold over asking.
Days on Market for Cedar Rapids, IA
How long does it take to sell a home in Cedar Rapids, IA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
28 Days | 25 Days | -9.9% |
Summary: Homes in Cedar Rapids had an average of 25 days on market in Apr 2024, down by 9.9% compared to last year.
Breakdown of Home Sale Times
107 Homes Were Sold
Under 30 Days
19 Homes Were Sold
In 30 - 90 Days
14 Homes Were Sold
Over 90 Days
Summary: During April 2024, 141 homes were sold in Cedar Rapids; 76% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.