Is Pella, 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, Pella has remained a Buyer's Market.
Key Takeaway
Pella is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Pella, IA
How much do homes in Pella, IA cost?
Median Sold Price
$355,000
$237/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Pella have sold for 22.4% more than they did a year ago.
Summary: The median home sold price in Pella was $355,000 in March 2024, up 22.4% from last year, and the median price per square foot was $237.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $126.1K | $182K | +44.3% |
| 2 Bedrooms | $199.9K | $233K | +16.5% |
| 3 Bedrooms | $265K | $312.4K | +17.9% |
| 4 Bedrooms | $313K | $376K | +20.1% |
| 5+ Bedrooms | $423.5K | $563.7K | +33.1% |
Summary: Pella housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 44.3%, 2 bedroom homes increased by 16.5%, 3 bedroom homes increased by 17.9%, 4 bedroom homes increased by 20.1%, and 5+ bedroom homes increased by 33.1%.
Median Sold Price Compared To Nearby Cities
| Pella | $290K | $355K | +22.4% |
| Lake Prairie Township | $293.5K | $351.5K | +19.8% |
Housing Supply in Pella, IA
How many homes are available in Pella, IA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 52 | 68 | +30.8% |
Summary: The Pella real estate market had 68 homes for sale in March 2024, a 30.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 3 | -25.0% |
| 3 Bedrooms | 27 | 33 | +22.2% |
| 4 Bedrooms | 16 | 22 | +37.5% |
| 5+ Bedrooms | 5 | 10 | +100.0% |
Summary: The Pella 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 decreased by 25%, 3 bedroom homes increased by 22.2%, 4 bedroom homes increased by 37.5%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 7 | 7 | 0.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Pella, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Pella in March 2024, the same as the previous month. Of the 7 sold homes, 43% were sold under asking, 29% were sold at asking, and 29% were sold over asking.
Days on Market for Pella, IA
How long does it take to sell a home in Pella, IA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 64 Days | 57 Days | -11.1% |
Summary: Homes in Pella had an average of 57 days on market in Mar 2024, down by 11.1% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Pella are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 7 homes were sold in Pella; 57% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 43% of homes were sold over 90 days.
Provided Courtesy Of Cedar Rapids Area Association of REALTORS®. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information Is Believed To Be Accurate But Not Guaranteed.