Is Drake, IA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Drake has remained a Seller's Market.
Housing Prices in Drake, IA
How much do homes in Drake, IA cost?
Median Sold Price
$233,505
$160/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Drake was $233,505 in April 2024, up 8.6% from last year, and the median price per square foot was $160.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $72.5K | $93.2K | +28.6% |
2 Bedrooms | $160.5K | $191K | +19.0% |
3 Bedrooms | $225K | $235K | +4.4% |
4 Bedrooms | $250K | $284.8K | +14.0% |
5+ Bedrooms | $260K | $242.5K | -6.7% |
Summary: Drake housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 28.6%, 2 bedroom homes increased by 19%, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 14%, and 5+ bedroom homes decreased by 6.7%.
Median Sold Price Compared To Nearby Neighborhoods
Mondamin Presidential | $103K | $157K | +52.4% |
Drake | $215K | $233.5K | +8.6% |
Woodland Heights | $196K | $199.5K | +1.8% |
Housing Supply in Drake, IA
How many homes are available in Drake, IA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
45 | 41 | -8.9% |
Summary: The Drake real estate market had 41 homes for sale in April 2024, a 8.9% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 14 | 16 | +14.3% |
3 Bedrooms | 9 | 9 | 0.0% |
4 Bedrooms | 11 | 8 | -27.3% |
5+ Bedrooms | 11 | 8 | -27.3% |
Summary: The Drake 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 14.3%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 27.3%, and 5+ bedroom homes decreased by 27.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
13 | 15 | +15.4% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 15 homes were sold or pending in Drake in April 2024, up by 15.4% month-over-month. Of the 15 sold homes, 73% were sold under asking, 13% were sold at asking, and 13% were sold over asking.
Days on Market for Drake, IA
How long does it take to sell a home in Drake, IA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
10 Days | 17 Days | +67.3% |
Summary: Homes in Drake had an average of 17 days on market in Apr 2024, up by 67.3% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 15 homes were sold in Drake; 87% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.