Is Palo, 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, Palo was a Neutral Market.
Housing Prices in Palo, IA
How much do homes in Palo, IA cost?
Median Sold Price
$335,000
$159/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Palo was $335,000 in March 2024, up 11.7% from last year, and the median price per square foot was $159.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $100K | $215K | +115.0% |
3 Bedrooms | $250K | $328K | +31.2% |
4 Bedrooms | $324.2K | $341.2K | +5.2% |
5+ Bedrooms | $315K | $395K | +25.4% |
Summary: Palo 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 increased by 115%, 3 bedroom homes increased by 31.2%, 4 bedroom homes increased by 5.2%, and 5+ bedroom homes increased by 25.4%.
Housing Supply in Palo, IA
How many homes are available in Palo, IA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
6 | 6 | 0.0% |
Summary: The Palo real estate market had 6 homes for sale in March 2024, the same as February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 0 | 0 | 0.0% |
3 Bedrooms | 3 | 2 | -33.3% |
4 Bedrooms | 2 | 2 | 0.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Palo 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 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 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
Summary: A total of 4 homes were sold or pending in Palo in March 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 Palo, IA
How long does it take to sell a home in Palo, IA?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
18 Days | 17 Days | -4.2% |
Summary: Homes in Palo had an average of 17 days on market in Mar 2024, down by 4.2% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 4 homes were sold in Palo; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.