Is Adel, IA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Adel was a Seller's Market.
Key Takeaway
Adel is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Adel, IA
How much do homes in Adel, IA cost?
Median Sold Price
$363,081
$230/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Adel have sold for 4.2% less than they did a year ago.
Summary: The median home sold price in Adel was $363,081 in March 2024, down 4.2% from last year, and the median price per square foot was $230.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $360K | N/A |
| 2 Bedrooms | $188K | $174.7K | -7.0% |
| 3 Bedrooms | $299.5K | $311.9K | +4.2% |
| 4 Bedrooms | $392.8K | $373K | -5.1% |
| 5+ Bedrooms | $501.9K | $607.5K | +21.0% |
Summary: Adel housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 7%, 3 bedroom homes increased by 4.2%, 4 bedroom homes decreased by 5.1%, and 5+ bedroom homes increased by 21%.
Median Sold Price Compared To Nearby Cities
| Adel Township | $341K | $355K | +4.1% |
| Van Meter Township | $318.5K | $309.9K | -2.7% |
| Adel | $379K | $363K | -4.2% |
Housing Supply in Adel, IA
How many homes are available in Adel, IA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 65 | 75 | +15.4% |
Summary: The Adel real estate market had 75 homes for sale in March 2024, a 15.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 3 | 3 | 0.0% |
| 3 Bedrooms | 16 | 15 | -6.3% |
| 4 Bedrooms | 35 | 43 | +22.9% |
| 5+ Bedrooms | 11 | 13 | +18.2% |
Summary: The Adel housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 6.3%, 4 bedroom homes increased by 22.9%, and 5+ bedroom homes increased by 18.2%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 10 | 6 | -40.0% |
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 Adel, 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 Adel in March 2024, down by 40.0% 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 Adel, IA
How long does it take to sell a home in Adel, IA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 23 Days | 76 Days | +221.1% |
Summary: Homes in Adel had an average of 76 days on market in Mar 2024, up by 221.1% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Adel are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 6 homes were sold in Adel; 33% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
