Palo Housing Market Report May 2025•Linn County, Iowa

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Housing Prices in Palo, IA

How much do homes in Palo, IA cost?

Housing Market Conditions

Is Palo, 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

Palo is a Seller's Market

Difference Since May 2024

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

Insight

Palo 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.
$256,890$136/SqFt
-$71,105
-21.7%

Based on all homes sold in the last 12 months

Insight

Homes in Palo have sold for 21.7% less than they did a year ago.

Summary: The median home sold price in Palo was $256,890 in May 2025, down 21.7% from last year, and the median price per square foot was $136.

Median Sold Price By Cities

Median Sold Price By Cities
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
Fayette Township
-21.7%
Palo
-21.7%

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.
BedsMay 2024May 2025Change YoY
1-$60K
N/A
2$145K-
N/A
3$270.4K$215K
-20.5%
4$340K$321.4K
-5.4%
5$356K$391K
+9.8%

Summary: Palo housing price by bedroom type for May 2025, compared to the previous year. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes did not change. The home price for 3 bedroom homes decreased by -20.5%. The home price for 4 bedroom homes decreased by -5.4%. The home price for 5 bedroom homes increased by +9.8%.

How does Palo, IA compare with other places?

Market comparison tool

Data and numbers shown are subject to change and may vary based on different timeframes.

Palo, IA

Housing supply in Palo, IA

How many homes are available in Palo, 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
14Last MonthMay 2025
142 months agoApr 2025
0.0 %
Change MoMApr – May

Summary: The Palo real estate market had 14 homes for sale in May 2025, the same as Apr 2025

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
5Last MonthMay 2025
22 months agoApr 2025
+150.0 %
Change MoMApr – May

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.
BedsApr 2025May 2025Change MoM
100
0.0%
200
0.0%
387
-12.5%
444
0.0%
523
+50.0%

Summary: Palo housing inventory by bedroom type for May 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes remained the same. The inventory for 3 bedroom homes decreased by -12.5%. The inventory for 4 bedroom homes remained the same. The inventory for 5 bedroom homes increased by +50.0%.

Asking Price vs. Sold Price

How much do homes in Palo, 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 Price0 Home

At Asking Price2 Homes

Under Asking Price3 Homes

Insight

If you're buying a home in Palo, you may be able to get a good deal. 60% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in Palo in May 2025, up by 150.0% month-over-month. Of the 5 sold homes, 60% were sold under asking, 40% were sold at asking, and and 0% were sold over asking.

Days on Market for Palo, IA

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

Breakdown of Home Sale Times

Under 30 Days2 Homes

30 – 90 Days1 Home

Over 90 Days2 Homes

Insight

Many homes in Palo are selling fast, if you're buying plan to act quickly.

Summary: During May 2025, 5 homes were sold in Palo; 40% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 40% 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
104 DaysThis YearMay 2025
297 Days1 year agoMay 2024
-64.9 %
Change YoYMay 2024 – May 2025

Summary: Homes in Palo had an average listing age of 104 days in May 2025, down by 64.9% compared to the previous year.

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Newest Listings in Palo, IA

What homes are available in Palo, IA?

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Nearby markets aren't available for Palo, IA

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MLS Disclaimers and Copyright

Based on information from Cedar Rapids MLS, and Des Moines MLS for the period 06/01/2023 - 06/01/2025

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: 6/18/2025, 12:55:26 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange of the Des Moines 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 deemed reliable but not guaranteed. Copyright© 2025 Des Moines 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: 6/18/2025, 12:55:27 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.