Iowa City Housing Market Report December 2024•Johnson County, Iowa

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Housing Prices in Iowa City, IA

How much do homes in Iowa City, IA cost?

Housing Market Conditions

Is Iowa City, IA a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Iowa City is a Seller's Market

Difference Since December 2023

Since last year, Iowa City has remained a Seller's Market.

Insight

Iowa City is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$311,666$169/SqFt
+$8,333
+2.7%

Based on all homes sold in the last 12 months

Insight

Homes in Iowa City have sold for 2.7% more than they did a year ago.

Summary: The median home sold price in Iowa City was $311,666 in December 2024, up 2.7% from last year, and the median price per square foot was $169.

Median Sold Price By City

Median Sold Price By City
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
Coralville
+10.9%
Iowa City
+2.7%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsDec 2023Dec 2024Change YoY
1$285K$175K
-38.6%
2$183K$196K
+7.1%
3$272K$255K
-6.3%
4$359.9K$387.9K
+7.8%
5$466.3K$497.5K
+6.7%

Summary: Iowa City housing price by bedroom type for December 2024, compared to the previous year. The home price for 1 bedroom homes decreased by -38.6%. The home price for 2 bedroom homes increased by +7.1%. The home price for 3 bedroom homes decreased by -6.3%. The home price for 4 bedroom homes increased by +7.8%. The home price for 5 bedroom homes increased by +6.7%.

Housing supply in Iowa City, IA

How many homes are available in Iowa City, IA?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
101Last MonthDec 2024
1142 months agoNov 2024
-11.4 %
Change MoMNov – Dec

Summary: The Iowa City real estate market had 101 homes for sale in Dec 2024, a 11.4 % decrease compared to Nov 2024.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
19Last MonthDec 2024
192 months agoNov 2024
0.0 %
Change MoMNov – Dec

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsNov 2024Dec 2024Change MoM
155
0.0%
22015
-25.0%
34540
-11.1%
42418
-25.0%
52023
+15.0%

Summary: Iowa City housing inventory by bedroom type for December 2024, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes decreased by -25.0%. The inventory for 3 bedroom homes decreased by -11.1%. The inventory for 4 bedroom homes decreased by -25.0%. The inventory for 5 bedroom homes increased by +15.0%.

Asking Price vs. Sold Price

How much do homes in Iowa City, IA cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price2 Homes

At Asking Price5 Homes

Under Asking Price12 Homes

Insight

If you're buying a home in Iowa City, you may be able to get a good deal. 63.2% of homes here sold below asking price last month.

Summary: A total of 19 homes were sold or pending in Iowa City in December 2024, the same as the previous month. Of the 19 sold homes, 63% were sold under asking, 26% were sold at asking, and and 11% were sold over asking.

Days on Market for Iowa City, IA

How long does it take to sell a home in Iowa City, IA?

Breakdown of Home Sale Times

Under 30 Days4 Homes

30 – 90 Days6 Homes

Over 90 Days8 Homes

Insight

Most homes in Iowa City are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During December 2024, 19 homes were sold in Iowa City; 21% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 42% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
108 DaysThis YearDec 2024
50 Days1 year agoDec 2023
+116.1 %
Change YoYDec 2023 – Dec 2024

Summary: Homes in Iowa City had an average listing age of 108 days in Dec 2024, up by 116.1% compared to the previous year.

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Newest Listings in Iowa City, IA

What homes are available in Iowa City, IA?

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Nearby markets

Popular Cities with Homes for Sale in Iowa

MLS Disclaimers and Copyright

Based on information from Cedar Rapids MLS, for the period 01/01/2023 - 01/01/2025

IDXProvided 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.
Copyright 2025 Cedar Rapids Area Association of REALTORS®. All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/17/2025, 10:20:50 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.