Is Pella, 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, Pella has remained a Seller's Market.
Key Takeaway
Pella is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Pella, IA
How much do homes in Pella, IA cost?
Median Sold Price
$355,000
$236/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Pella have sold for 20.3% more than they did a year ago.
Summary: The median home sold price in Pella was $355,000 in April 2024, up 20.3% from last year, and the median price per square foot was $236.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $126.1K | $182K | +44.3% |
| 2 Bedrooms | $204.4K | $235K | +14.9% |
| 3 Bedrooms | $275.5K | $317.2K | +15.2% |
| 4 Bedrooms | $315.2K | $378.7K | +20.1% |
| 5+ Bedrooms | $432.5K | $564.8K | +30.6% |
Summary: Pella housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 44.3%, 2 bedroom homes increased by 14.9%, 3 bedroom homes increased by 15.2%, 4 bedroom homes increased by 20.1%, and 5+ bedroom homes increased by 30.6%.
Median Sold Price Compared To Nearby Cities
| Pella | $295K | $355K | +20.3% |
| Lake Prairie Township | $295K | $354.5K | +20.2% |
Housing Supply in Pella, IA
How many homes are available in Pella, IA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 78 | 74 | -5.1% |
Summary: The Pella real estate market had 74 homes for sale in April 2024, a 5.1% 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 | 4 | 5 | +25.0% |
| 3 Bedrooms | 38 | 29 | -23.7% |
| 4 Bedrooms | 24 | 25 | +4.2% |
| 5+ Bedrooms | 12 | 15 | +25.0% |
Summary: The Pella 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 25%, 3 bedroom homes decreased by 23.7%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 11 | 13 | +18.2% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Pella, you could pay more than the asking price. 38.5% of homes here sold above asking price last month.
Summary: A total of 13 homes were sold or pending in Pella in April 2024, up by 18.2% month-over-month. Of the 13 sold homes, 31% were sold under asking, 31% were sold at asking, and 38% were sold over asking.
Days on Market for Pella, IA
How long does it take to sell a home in Pella, IA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 90 Days | 46 Days | -48.7% |
Summary: Homes in Pella had an average of 46 days on market in Apr 2024, down by 48.7% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Pella are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 13 homes were sold in Pella; 54% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 23% 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.