Is Boone, IA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Boone has remained a Seller's Market.
Key Takeaway
Boone is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Boone, IA
How much do homes in Boone, IA cost?
Median Sold Price
$185,000
$143/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Boone have sold for 2.1% more than they did a year ago.
Summary: The median home sold price in Boone was $185,000 in May 2024, up 2.1% from last year, and the median price per square foot was $143.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $130.5K | $131.5K | +0.8% |
| 2 Bedrooms | $129K | $149.9K | +16.2% |
| 3 Bedrooms | $187K | $192.9K | +3.2% |
| 4 Bedrooms | $236.7K | $210.7K | -11.0% |
| 5+ Bedrooms | $364.5K | $281.5K | -22.8% |
Summary: Boone housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.8%, 2 bedroom homes increased by 16.2%, 3 bedroom homes increased by 3.2%, 4 bedroom homes decreased by 11%, and 5+ bedroom homes decreased by 22.8%.
Median Sold Price Compared To Nearby Cities
| Des Moines Township | $195K | $207.3K | +6.3% |
| Boone | $181.2K | $185K | +2.1% |
Housing Supply in Boone, IA
How many homes are available in Boone, IA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 75 | 58 | -22.7% |
Summary: The Boone real estate market had 58 homes for sale in May 2024, a 22.7% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 21 | 17 | -19.0% |
| 3 Bedrooms | 33 | 22 | -33.3% |
| 4 Bedrooms | 12 | 13 | +8.3% |
| 5+ Bedrooms | 8 | 6 | -25.0% |
Summary: The Boone housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 19%, 3 bedroom homes decreased by 33.3%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 24 | 13 | -45.8% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Boone, you may be able to get a good deal. 38.5% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in Boone in May 2024, down by 45.8% month-over-month. Of the 13 sold homes, 38% were sold under asking, 23% were sold at asking, and 38% were sold over asking.
Days on Market for Boone, IA
How long does it take to sell a home in Boone, IA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 19 Days | 58 Days | +193.1% |
Summary: Homes in Boone had an average of 58 days on market in May 2024, up by 193.1% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Boone are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 13 homes were sold in Boone; 54% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 31% of homes were sold over 90 days.
