Is Marion, IA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Marion has remained a Seller's Market.
Housing Prices in Marion, IA
How much do homes in Marion, IA cost?
Median Sold Price
$253,500
$132/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Marion was $253,500 in March 2024, up 6.7% from last year, and the median price per square foot was $132.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $65.2K | $85K | +30.4% |
2 Bedrooms | $155K | $162.7K | +5.0% |
3 Bedrooms | $214.9K | $225K | +4.7% |
4 Bedrooms | $290K | $310K | +6.9% |
5+ Bedrooms | $430K | $455K | +5.8% |
Summary: Marion housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 30.4%, 2 bedroom homes increased by 5%, 3 bedroom homes increased by 4.7%, 4 bedroom homes increased by 6.9%, and 5+ bedroom homes increased by 5.8%.
Median Sold Price Compared To Nearby Cities
Marion | $237.5K | $253.5K | +6.7% |
Cedar Rapids | $176.3K | $188.2K | +6.7% |
Marion Township | $245.8K | $259.9K | +5.7% |
Housing Supply in Marion, IA
How many homes are available in Marion, IA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
169 | 165 | -2.4% |
Summary: The Marion real estate market had 165 homes for sale in March 2024, a 2.4% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 25 | 25 | 0.0% |
3 Bedrooms | 72 | 70 | -2.8% |
4 Bedrooms | 42 | 41 | -2.4% |
5+ Bedrooms | 29 | 28 | -3.4% |
Summary: The Marion housing inventory by bedroom type for March 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 2.8%, 4 bedroom homes decreased by 2.4%, and 5+ bedroom homes decreased by 3.4%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
35 | 37 | +5.7% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Summary: A total of 37 homes were sold or pending in Marion in March 2024, up by 5.7% month-over-month. Of the 37 sold homes, 49% were sold under asking, 22% were sold at asking, and 30% were sold over asking.
Days on Market for Marion, IA
How long does it take to sell a home in Marion, IA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
36 Days | 18 Days | -50.0% |
Summary: Homes in Marion had an average of 18 days on market in Mar 2024, down by 50% compared to last year.
Breakdown of Home Sale Times
29 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 37 homes were sold in Marion; 78% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.