Is Polk County, IA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Polk County is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Polk County has remained a Seller's Market.

Key Takeaway

Polk County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Polk County, IA

How much do homes in Polk County, IA cost?

Median Sold Price

$283,356

$204/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$12,792(+4.7%)

Key Takeaway

Homes in Polk County have sold for 4.7% more than they did a year ago.

Summary: The median home sold price in Polk County was $283,356 in May 2024, up 4.7% from last year, and the median price per square foot was $204.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $129K$123.9K
-4.0%
2 $169.5K$178.7K
+5.4%
3 $265K$272.9K
+3.0%
4 $359.4K$367.9K
+2.4%
5+ $510K$520.8K
+2.1%

Summary: Polk County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4%, 2 bedroom homes increased by 5.4%, 3 bedroom homes increased by 3%, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes increased by 2.1%.

Median Sold Price Compared To Nearby Counties

Jasper County
+8.7%
Warren County
+6.4%
Story County
+5.9%
Polk County
+4.7%
Dallas County
+3.6%

Housing Supply in Polk County, IA

How many homes are available in Polk County, IA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
3,2173,197-0.6%

Summary: The Polk County real estate market had 3,197 homes for sale in May 2024, a 0.6% decrease compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 3743
+16.2%
2 562555
-1.2%
3 1,2571,253
-0.3%
4 922911
-1.2%
5+ 439435
-0.9%

Summary: The Polk County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.2%, 2 bedroom homes decreased by 1.2%, 3 bedroom homes decreased by 0.3%, 4 bedroom homes decreased by 1.2%, and 5+ bedroom homes decreased by 0.9%.

Number of Homes Sold

Apr 2024May 2024CHANGE
721758+5.1%

Asking Price vs. Sold Price

369 Homes Were Sold
Under Asking

235 Homes Were Sold
At Asking

154 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Polk County, you may be able to get a good deal. 48.7% of homes here sold below asking price last month.

Summary: A total of 758 homes were sold or pending in Polk County in May 2024, up by 5.1% month-over-month. Of the 758 sold homes, 49% were sold under asking, 31% were sold at asking, and 20% were sold over asking.

Days on Market for Polk County, IA

How long does it take to sell a home in Polk County, IA?

Average Sale Time

May 2023May 2024CHANGE
43 Days50 Days+15.0%

Summary: Homes in Polk County had an average of 50 days on market in May 2024, up by 15% compared to last year.

Breakdown of Home Sale Times

488 Homes Were Sold
Under 30 Days

128 Homes Were Sold
In 30 - 90 Days

142 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 758 homes were sold in Polk County; 64% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 19% 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 22 Days Ago

Newest Listings in Polk County, IA

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