Is Adel, IA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Adel was a Seller's Market.
Key Takeaway
Adel is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Adel, IA
How much do homes in Adel, IA cost?
Median Sold Price
$362,500
$231/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Adel have sold for 3.8% less than they did a year ago.
Summary: The median home sold price in Adel was $362,500 in April 2024, down 3.8% from last year, and the median price per square foot was $231.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $360K | N/A |
| 2 Bedrooms | $176K | $174.7K | -0.7% |
| 3 Bedrooms | $292K | $314.9K | +7.8% |
| 4 Bedrooms | $379.7K | $376.4K | -0.9% |
| 5+ Bedrooms | $504.9K | $607.5K | +20.3% |
Summary: Adel housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 0.7%, 3 bedroom homes increased by 7.8%, 4 bedroom homes decreased by 0.9%, and 5+ bedroom homes increased by 20.3%.
Median Sold Price Compared To Nearby Cities
| Adel Township | $348.5K | $353.4K | +1.4% |
| Van Meter Township | $318.5K | $307.5K | -3.5% |
| Adel | $376.7K | $362.5K | -3.8% |
Housing Supply in Adel, IA
How many homes are available in Adel, IA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 78 | 82 | +5.1% |
Summary: The Adel real estate market had 82 homes for sale in April 2024, a 5.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 3 | 4 | +33.3% |
| 3 Bedrooms | 14 | 15 | +7.1% |
| 4 Bedrooms | 48 | 47 | -2.1% |
| 5+ Bedrooms | 12 | 15 | +25.0% |
Summary: The Adel housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 7.1%, 4 bedroom homes decreased by 2.1%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 6 | 11 | +83.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Adel, you may be able to get a good deal. 54.5% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in Adel in April 2024, up by 83.3% month-over-month. Of the 11 sold homes, 55% were sold under asking, 36% were sold at asking, and 9% were sold over asking.
Days on Market for Adel, IA
How long does it take to sell a home in Adel, IA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 71 Days | 174 Days | +143.0% |
Summary: Homes in Adel had an average of 174 days on market in Apr 2024, up by 143% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Adel are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 11 homes were sold in Adel; 45% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 55% of homes were sold over 90 days.
