Is Marion, 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, Marion was a Neutral Market.
Key Takeaway
Marion is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Marion, IA
How much do homes in Marion, IA cost?
Median Sold Price
$260,380
$133/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Marion have sold for 10.7% more than they did a year ago.
Summary: The median home sold price in Marion was $260,380 in April 2024, up 10.7% from last year, and the median price per square foot was $133.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $65.2K | $85K | +30.4% |
| 2 Bedrooms | $154.9K | $167.7K | +8.3% |
| 3 Bedrooms | $212K | $229.9K | +8.4% |
| 4 Bedrooms | $290K | $310K | +6.9% |
| 5+ Bedrooms | $431.2K | $455.4K | +5.6% |
Summary: Marion housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 30.4%, 2 bedroom homes increased by 8.3%, 3 bedroom homes increased by 8.4%, 4 bedroom homes increased by 6.9%, and 5+ bedroom homes increased by 5.6%.
Median Sold Price Compared To Nearby Cities
| Marion | $235.1K | $260.3K | +10.7% |
| Marion Township | $244.3K | $264.9K | +8.4% |
| Cedar Rapids | $178.3K | $189.2K | +6.1% |
Housing Supply in Marion, IA
How many homes are available in Marion, IA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 172 | 191 | +11.0% |
Summary: The Marion real estate market had 191 homes for sale in April 2024, a 11.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 24 | 29 | +20.8% |
| 3 Bedrooms | 74 | 85 | +14.9% |
| 4 Bedrooms | 42 | 49 | +16.7% |
| 5+ Bedrooms | 31 | 28 | -9.7% |
Summary: The Marion housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 20.8%, 3 bedroom homes increased by 14.9%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes decreased by 9.7%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 39 | 42 | +7.7% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Marion, you may be able to get a good deal. 45.2% of homes here sold below asking price last month.
Summary: A total of 42 homes were sold or pending in Marion in April 2024, up by 7.7% month-over-month. Of the 42 sold homes, 45% were sold under asking, 31% were sold at asking, and 24% were sold over asking.
Days on Market for Marion, IA
How long does it take to sell a home in Marion, IA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 53 Days | 39 Days | -27.3% |
Summary: Homes in Marion had an average of 39 days on market in Apr 2024, down by 27.3% compared to last year.
Breakdown of Home Sale Times
22 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Marion are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 42 homes were sold in Marion; 52% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 12% 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.