Is Prairie City, IA 50228 a buyer’s or seller’s market?
Prairie City is a balanced market. With about 4 months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.
The Prairie City housing market right now
In the three months ending August 31, 2026, 0% of homes in Prairie City, IA 50228 sold above their list price, the typical home went under contract in 99 days and there were 4 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. With only 4 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 (15 days then) and the median sale price rose 13% to $314,864. Overall, Prairie City is less competitive than a year ago, which gives buyers more room.
Within Jasper County, homes here sell more slowly than in 87% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.
Nearby, Kellogg 50135 (33% sold over asking) and Newton 50208 (18% sold over asking) are even more competitive.
Run the numbers for 50228
Nearby markets
Baxter 50028Buyer’s market $203 /sq ftColfax 50054Seller’s market $143 /sq ftIra 50127 — /sq ftKellogg 50135Balanced $157 /sq ft Browse all markets →Towns like Prairie City nearby
Find towns like Prairie City in other states →Where Prairie City is
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Questions about Prairie City real estate
Is Prairie City a buyer’s or seller’s market?
A balanced market: there were 4 months of supply in Prairie City, IA 50228 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 Prairie City?
The typical home went under contract in 99 days in the latest three months.
Do homes in Prairie City sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 97.5% of the list price.
What are property taxes in Prairie City?
About 1.41% of a home’s value a year in Jasper County, or roughly $5,640 on a $400,000 home.
What is the median home price in Prairie City?
The median sale price was $314,864 in the three months ending August 31, 2026, about $169 per square foot.
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More tools for 50228
Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology