Is Colfax, IA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Colfax was a Neutral Market.
Key Takeaway
Colfax is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Colfax, IA
How much do homes in Colfax, IA cost?
Median Sold Price
$180,750
$138/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Colfax have sold for 3.3% more than they did a year ago.
Summary: The median home sold price in Colfax was $180,750 in April 2024, up 3.3% from last year, and the median price per square foot was $138.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $95K | - | N/A |
| 2 Bedrooms | $114.9K | $71K | -38.2% |
| 3 Bedrooms | $200K | $194.2K | -2.9% |
| 4 Bedrooms | $215K | $175K | -18.6% |
| 5+ Bedrooms | $288.2K | $377K | +30.8% |
Summary: Colfax housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 38.2%, 3 bedroom homes decreased by 2.9%, 4 bedroom homes decreased by 18.6%, and 5+ bedroom homes increased by 30.8%.
Median Sold Price Compared To Nearby Cities
| Poweshiek Township | $210K | $285K | +35.7% |
| Colfax | $175K | $180.7K | +3.3% |
| Washington Township | $187.5K | $169K | -9.9% |
Housing Supply in Colfax, IA
How many homes are available in Colfax, IA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 10 | 14 | +40.0% |
Summary: The Colfax real estate market had 14 homes for sale in April 2024, a 40.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 2 | 3 | +50.0% |
| 3 Bedrooms | 4 | 4 | 0.0% |
| 4 Bedrooms | 4 | 5 | +25.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Colfax housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 50%, 3 bedroom homes remained the same, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1 | 4 | +300.0% |
Asking Price vs. Sold Price
2 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 Colfax, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Colfax in April 2024, up by 300.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for Colfax, IA
How long does it take to sell a home in Colfax, IA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 4 Days | 37 Days | +831.3% |
Summary: Homes in Colfax had an average of 37 days on market in Apr 2024, up by 831.3% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Colfax are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 4 homes were sold in Colfax; 75% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
