Is Madrid, IA 50156 a buyer’s or seller’s market?
Madrid is a seller’s market. With about 3 months of supply and 15% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
More competitive than 57% of U.S. ZIP codes, and #64 of 155 in the state.
Based on share sold above original list, sale-to-list ratio, months of supply and days on market for the 3 months ending July 31, 2026. See the breakdown
The Madrid housing market right now
In the three months ending August 31, 2026, 15% of homes in Madrid, IA 50156 sold above their list price, the typical home went under contract in 52 days and there were 3 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 13 home sales.
Compared with the same period a year earlier, the share selling over asking fell from 27%, homes sold more slowly (11 days then) and the median sale price fell 5% to $269,883. Overall, Madrid is less competitive than a year ago, which gives buyers more room.
Within Boone County, homes here sell more slowly than in 60% of the county’s ZIP codes, and sell more often over asking than in any other ZIP code in the county.
Nearby, buyers who want less competition could look at Woodward 50276 (0% sold over asking) or Pilot Mound 50223 (0% sold over asking).
Run the numbers for 50156
Nearby markets
Boone 50036Seller’s market $171 /sq ftBoxholm 50040 $70 /sq ftOgden 50212Balanced $150 /sq ftPilot Mound 50223 — /sq ft Browse all markets →Towns like Madrid nearby
Find towns like Madrid in other states →Where Madrid is
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Questions about Madrid real estate
Is Madrid a buyer’s or seller’s market?
A seller’s market: there were 3 months of supply in Madrid, IA 50156 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Madrid?
The typical home went under contract in 52 days in the latest three months.
Do homes in Madrid sell over asking?
15% of homes sold above their original list price, and the typical sale closed at 99.2% of the list price.
What are property taxes in Madrid?
About 1.37% of a home’s value a year in Boone County, or roughly $5,480 on a $400,000 home.
What is the median home price in Madrid?
The median sale price was $269,883 in the three months ending August 31, 2026, about $166 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology