Is Mount Vernon, IA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Mount Vernon is a buyer's market

Buyer's
Market

Difference Since February 2023

At the same time last year, Mount Vernon was a Neutral Market.

Key Takeaway

Mount Vernon is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Mount Vernon, IA

How much do homes in Mount Vernon, IA cost?

Median Sold Price

$299,475

$144/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$5,525(-1.8%)

Key Takeaway

Homes in Mount Vernon have sold for 1.8% less than they did a year ago.

Summary: The median home sold price in Mount Vernon was $299,475 in February 2024, down 1.8% from last year, and the median price per square foot was $144.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 -$255K
N/A
2 $285K$162.5K
-43.0%
3 $264.7K$252.5K
-4.6%
4 $324K$299.4K
-7.6%
5+ $427.5K$589.7K
+38.0%

Summary: Mount Vernon housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 43%, 3 bedroom homes decreased by 4.6%, 4 bedroom homes decreased by 7.6%, and 5+ bedroom homes increased by 38%.

Median Sold Price Compared To Nearby Cities

Franklin Township
+11.6%
Mount Vernon
-1.8%

Housing Supply in Mount Vernon, IA

How many homes are available in Mount Vernon, IA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
1218+50.0%

Summary: The Mount Vernon real estate market had 18 homes for sale in February 2024, a 50.0% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 10
-100.0%
2 00
0.0%
3 47
+75.0%
4 36
+100.0%
5+ 45
+25.0%

Summary: The Mount Vernon housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 75%, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 25%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
21-50.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Mount Vernon, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 1 homes were sold or pending in Mount Vernon in February 2024, down by 50.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Mount Vernon, IA

How long does it take to sell a home in Mount Vernon, IA?

Average Sale Time

Feb 2023Feb 2024CHANGE
74 Days15 Days-79.9%

Summary: Homes in Mount Vernon had an average of 15 days on market in Feb 2024, down by 79.9% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Mount Vernon are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 1 homes were sold in Mount Vernon; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% 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 27 Days Ago

Newest Listings in Mount Vernon, IA

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