Is Polk City, 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, Polk City was a Seller's Market.
Key Takeaway
Polk City is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Polk City, IA
How much do homes in Polk City, IA cost?
Median Sold Price
$439,000
$253/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Polk City have sold for 9.6% more than they did a year ago.
Summary: The median home sold price in Polk City was $439,000 in April 2024, up 9.6% from last year, and the median price per square foot was $253.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $333.5K | $242.5K | -27.3% |
| 3 Bedrooms | $295K | $309.9K | +5.1% |
| 4 Bedrooms | $500K | $469.9K | -6.0% |
| 5+ Bedrooms | $580K | $627.5K | +8.2% |
Summary: Polk City 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 27.3%, 3 bedroom homes increased by 5.1%, 4 bedroom homes decreased by 6%, and 5+ bedroom homes increased by 8.2%.
Median Sold Price Compared To Nearby Cities
| Lincoln Township | $434.7K | $508.5K | +17.0% |
| Polk City | $400.5K | $439K | +9.6% |
| Madison Township | $400K | $419.9K | +5.0% |
| Crocker Township | $319.9K | $326.7K | +2.1% |
Housing Supply in Polk City, IA
How many homes are available in Polk City, IA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 48 | 49 | +2.1% |
Summary: The Polk City real estate market had 49 homes for sale in April 2024, a 2.1% increase 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 | 3 | 3 | 0.0% |
| 3 Bedrooms | 13 | 14 | +7.7% |
| 4 Bedrooms | 23 | 22 | -4.3% |
| 5+ Bedrooms | 9 | 10 | +11.1% |
Summary: The Polk City 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 remained the same, 3 bedroom homes increased by 7.7%, 4 bedroom homes decreased by 4.3%, and 5+ bedroom homes increased by 11.1%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 4 | 8 | +100.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Polk City, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 8 homes were sold or pending in Polk City in April 2024, up by 100.0% month-over-month. Of the 8 sold homes, 25% were sold under asking, 50% were sold at asking, and 25% were sold over asking.
Days on Market for Polk City, IA
How long does it take to sell a home in Polk City, IA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 74 Days | 32 Days | -56.0% |
Summary: Homes in Polk City had an average of 32 days on market in Apr 2024, down by 56% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Polk City are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 8 homes were sold in Polk City; 88% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
