What's Happening?
In Polk County, the median home listing price in August was $339,900, a slight decrease from July's $339,995. Compared to August 2024, the median price decreased by 1.5%. The median home size was 1,820 square feet, with a price of $191 per square foot, down 3.6% from the previous year. Homes were listed for a median of 82 days, longer than the national median of 60 days. The number of new listings decreased by 10.1% from the previous year. These statistics reflect only listed homes, not those sold, and exclude new constructions and pending sales.
Why It's Important?
The data highlights trends in the Polk County housing market, indicating a slight cooling with decreased prices and longer listing times. This could affect potential buyers and sellers, influencing property investment decisions. The decrease in new listings suggests a potential tightening of the market, impacting housing availability and affordability. Understanding these trends is crucial for stakeholders, including real estate professionals, investors, and policymakers, as they navigate the complexities of the housing market.
