Is Iowa City, 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, Iowa City has remained a Seller's Market.
Housing Prices in Iowa City, IA
How much do homes in Iowa City, IA cost?
Median Sold Price
$302,500
$167/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Iowa City was $302,500 in April 2024, up 10% from last year, and the median price per square foot was $167.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $151.2K | $172K | +13.7% |
2 Bedrooms | $193.4K | $183K | -5.4% |
3 Bedrooms | $240K | $277.4K | +15.6% |
4 Bedrooms | $343K | $355K | +3.5% |
5+ Bedrooms | $452.5K | $466.3K | +3.1% |
Summary: Iowa City housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.7%, 2 bedroom homes decreased by 5.4%, 3 bedroom homes increased by 15.6%, 4 bedroom homes increased by 3.5%, and 5+ bedroom homes increased by 3.1%.
Median Sold Price Compared To Nearby Cities
Coralville | $285K | $338.9K | +18.9% |
Iowa City | $275K | $302.5K | +10.0% |
West Lucas Township | $245K | $260K | +6.1% |
Housing Supply in Iowa City, IA
How many homes are available in Iowa City, IA?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
95 | 92 | -3.2% |
Summary: The Iowa City real estate market had 92 homes for sale in April 2024, a 3.2% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 1 | -50.0% |
2 Bedrooms | 19 | 18 | -5.3% |
3 Bedrooms | 26 | 25 | -3.8% |
4 Bedrooms | 24 | 24 | 0.0% |
5+ Bedrooms | 24 | 24 | 0.0% |
Summary: The Iowa City housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 5.3%, 3 bedroom homes decreased by 3.8%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
18 | 18 | 0.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 18 homes were sold or pending in Iowa City in April 2024, the same as the previous month. Of the 18 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for Iowa City, IA
How long does it take to sell a home in Iowa City, IA?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
28 Days | 29 Days | +3.3% |
Summary: Homes in Iowa City had an average of 29 days on market in Apr 2024, up by 3.3% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 18 homes were sold in Iowa City; 56% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.