Is Melbourne, IA 50162 a buyer’s or seller’s market?
Melbourne is a seller’s market. With about 0.5 months of supply and 0% 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.
The Melbourne housing market right now
In the three months ending August 31, 2026, 0% of homes in Melbourne, IA 50162 sold above their list price, the typical home went under contract in 28 days and there were 0.5 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. With only 6 sales, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking was about the same (0% then), homes sold more slowly (12 days then) and the median sale price fell 13% to $194,916. Overall, Melbourne is less competitive than a year ago, which gives buyers more room.
Within Marshall County, homes here sell faster than in 63% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.
Nearby, Albion 50005 (40% sold over asking) and Marshalltown 50158 (29% sold over asking) are even more competitive.
Run the numbers for 50162
Nearby markets
Albion 50005 $77 /sq ftFerguson 50078 $82 /sq ftGilman 50106Seller’s market $138 /sq ftLaurel 50141 $95 /sq ft Browse all markets →Towns like Melbourne nearby
Find towns like Melbourne in other states →Where Melbourne is
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Questions about Melbourne real estate
Is Melbourne a buyer’s or seller’s market?
A seller’s market: there were 0.5 months of supply in Melbourne, IA 50162 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 Melbourne?
The typical home went under contract in 28 days in the latest three months.
Do homes in Melbourne sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 96.4% of the list price.
What are property taxes in Melbourne?
About 1.42% of a home’s value a year in Marshall County, or roughly $5,680 on a $400,000 home.
What is the median home price in Melbourne?
The median sale price was $194,916 in the three months ending August 31, 2026, about $135 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