Is Patterson, IA 50218 a buyer’s or seller’s market?
Patterson is a buyer’s market. With about 9.6 months of supply, buyers usually have more time and more room to negotiate on price and terms.
The Patterson housing market right now
In the three months ending August 31, 2026, 0% of homes in Patterson, IA 50218 sold above their list price, the typical home went under contract in 60 days and there were 9.6 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. With only 1 sale, 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 faster (72 days then) and the median sale price rose 50% to $363,843. Overall, Patterson is more competitive than a year ago, so tougher for buyers.
Within Madison County, homes here sell more slowly than in 75% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.
Nearby, Macksburg 50155 (100% sold over asking) and Saint Charles 50240 (33% sold over asking) are even more competitive.
Run the numbers for 50218
Nearby markets
Cumming 50061Balanced $197 /sq ftDexter 50070Seller’s market $174 /sq ftEarlham 50072Seller’s market $176 /sq ftLorimor 50149 — /sq ft Browse all markets →Where Patterson is
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Questions about Patterson real estate
Is Patterson a buyer’s or seller’s market?
A buyer’s market: there were 9.6 months of supply in Patterson, IA 50218 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 Patterson?
The typical home went under contract in 60 days in the latest three months.
Do homes in Patterson sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 99.0% of the list price.
What are property taxes in Patterson?
About 1.48% of a home’s value a year in Madison County, or roughly $5,920 on a $400,000 home.
What is the median home price in Patterson?
The median sale price was $363,843 in the three months ending August 31, 2026, about $238 per square foot.
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More tools for 50218
Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology