Marion, Iowa - Market Update: What the Numbers Mean for You
If you’re curious about the current real estate market in Marion, Iowa, let’s break it down in a way that actually makes sense for you. These key metrics aren’t just numbers—they tell the story of what’s happening in our local housing market and what you can expect whether you’re buying or selling.
Months Supply of Inventory: 2.2 Months
This number tells us how long it would take to sell all the current homes on the market if no new ones were listed. A 2.2-month supply is low, which means demand is high, and homes are selling quickly. For Sellers, this is great news—less competition means your home could attract multiple offers. For Buyers, it means acting fast and being prepared to make strong offers. Either way, using a REALTOR® you know, like, and trust will mean you’re more likely to succeed.
12-Month Change in Months of Inventory: +41.03%
At first glance, a 41% increase in inventory sounds like a lot, but in reality, the market is still tight. This just means that more homes have come onto the market compared to last year, which could be an early sign of the market shifting towards a more balanced state. Buyers may start to see more choices, but competition is still fierce.
Median Days on Market: 38 Days
This is how long homes are taking to sell on average. A median of 38 days means homes in Marion are moving quickly, but there’s still enough time for Buyers to make thoughtful decisions. Sellers, this means pricing your home correctly and presenting it well will help you capitalize on this fast-moving market.
Sold to List Price Ratio: 100%
On average, homes are selling for their full listing price. This means that well-priced homes are in demand and that Sellers can expect strong offers close to (or even above) their asking price. Buyers, be prepared to offer competitively—lowballing likely won’t work in this market!
Median Sold Price: $239,750
This number gives us a snapshot of home values in Marion. It represents the middle price point of all homes sold, meaning half sold for more and half for less. This helps Buyers understand the general price range they’ll be looking at and gives Sellers an idea of what homes are realistically selling for in today’s market.
What Does This All Mean for You?
Marion’s market is still leaning in favor of Sellers, with limited inventory and strong demand. However, the slight increase in available homes could mean a gradual shift towards a more balanced market. If you’re thinking about selling, now is still a great time to list while competition remains low. If you’re buying, being pre-approved and ready to move quickly will help you succeed in this competitive landscape.
Have questions about navigating the Marion real estate market? I’d love to help! Whether you’re looking to buy, sell, or just get a feel for your options, let’s connect and map out your best strategy.
Happy house hunting!
Kat Richter, REALTOR®, ABR®, RENE
O: 319-423-4139
C: 717-844-6146
Keller Williams Legacy Group
Licensed in the State of Iowa