Is Lake Prairie Township, IA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lake Prairie Township is a seller's market

Buyer's
Market

Difference Since April 2023

Since last year, Lake Prairie Township has remained a Seller's Market.

Key Takeaway

Lake Prairie Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Lake Prairie Township, IA

How much do homes in Lake Prairie Township, IA cost?

Median Sold Price

$354,500

$234/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$59,500(+20.2%)

Key Takeaway

Homes in Lake Prairie Township have sold for 20.2% more than they did a year ago.

Summary: The median home sold price in Lake Prairie Township was $354,500 in April 2024, up 20.2% from last year, and the median price per square foot was $234.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $126.1K$182K
+44.3%
2 $204.4K$234K
+14.5%
3 $266K$317.2K
+19.3%
4 $334K$378.7K
+13.4%
5+ $423.5K$566K
+33.6%

Summary: Lake Prairie Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 44.3%, 2 bedroom homes increased by 14.5%, 3 bedroom homes increased by 19.3%, 4 bedroom homes increased by 13.4%, and 5+ bedroom homes increased by 33.6%.

Median Sold Price Compared To Nearby Cities

Pella
+20.3%
Lake Prairie Township
+20.2%

Housing Supply in Lake Prairie Township, IA

How many homes are available in Lake Prairie Township, IA?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
7467-9.5%

Summary: The Lake Prairie Township real estate market had 67 homes for sale in April 2024, a 9.5% decrease compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 00
0.0%
2 45
+25.0%
3 3828
-26.3%
4 2322
-4.3%
5+ 912
+33.3%

Summary: The Lake Prairie Township housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 25%, 3 bedroom homes decreased by 26.3%, 4 bedroom homes decreased by 4.3%, and 5+ bedroom homes increased by 33.3%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
1113+18.2%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lake Prairie Township, you could pay more than the asking price. 38.5% of homes here sold above asking price last month.

Summary: A total of 13 homes were sold or pending in Lake Prairie Township in April 2024, up by 18.2% month-over-month. Of the 13 sold homes, 31% were sold under asking, 31% were sold at asking, and 38% were sold over asking.

Days on Market for Lake Prairie Township, IA

How long does it take to sell a home in Lake Prairie Township, IA?

Average Sale Time

Apr 2023Apr 2024CHANGE
104 Days46 Days-55.2%

Summary: Homes in Lake Prairie Township had an average of 46 days on market in Apr 2024, down by 55.2% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Lake Prairie Township are selling fast, if you're buying plan to act quickly.

Summary: During April 2024, 13 homes were sold in Lake Prairie Township; 54% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 23% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 4 Days Ago

Newest Listings in Lake Prairie Township, IA

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