Is Solon, 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, Solon was a Seller's Market.
Key Takeaway
Solon is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Solon, IA
How much do homes in Solon, IA cost?
Median Sold Price
$336,500
$152/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Solon have sold for 20.2% more than they did a year ago.
Summary: The median home sold price in Solon was $336,500 in March 2024, up 20.2% from last year, and the median price per square foot was $152.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $123.5K | $150K | +21.5% |
| 3 Bedrooms | $247.5K | $292.9K | +18.3% |
| 4 Bedrooms | $415K | $385K | -7.2% |
| 5+ Bedrooms | $525K | $620K | +18.1% |
Summary: Solon 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 21.5%, 3 bedroom homes increased by 18.3%, 4 bedroom homes decreased by 7.2%, and 5+ bedroom homes increased by 18.1%.
Median Sold Price Compared To Nearby Cities
| Solon | $280K | $336.5K | +20.2% |
| Big Grove Township | $335K | $310K | -7.5% |
Housing Supply in Solon, IA
How many homes are available in Solon, IA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 12 | 34 | +183.3% |
Summary: The Solon real estate market had 34 homes for sale in March 2024, a 183.3% 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 | 0 | 1 | +100.0% |
| 3 Bedrooms | 4 | 14 | +250.0% |
| 4 Bedrooms | 4 | 9 | +125.0% |
| 5+ Bedrooms | 4 | 10 | +150.0% |
Summary: The Solon 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 increased by 100%, 3 bedroom homes increased by 250%, 4 bedroom homes increased by 125%, and 5+ bedroom homes increased by 150%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 0 | 2 | +100.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Solon, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Solon in March 2024, up by 100.0% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Solon, IA
How long does it take to sell a home in Solon, IA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 34 Days | 111 Days | +224.8% |
Summary: Homes in Solon had an average of 111 days on market in Mar 2024, up by 224.8% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Solon are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 2 homes were sold in Solon; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% 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.