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Is Elma, IA 50628 a buyer’s or seller’s market?

Seller’s market 3 months ending August 31, 2026 · Source: Redfin

Elma is a seller’s market. With about 3.2 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.

Months of supply3.2Under 4 months = seller’s market
Sold above original list0%Share of sales, last 3 months
Median sale-to-list85.3%Sold price ÷ list price
Median days on market13Listing to accepted offer
Median price per sq ft—

The Elma housing market right now

In the three months ending August 31, 2026, 0% of homes in Elma, IA 50628 sold above their list price, the typical home went under contract in 13 days and there were 3.2 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. With only 1 sale, these figures can swing a lot from month to month.

Nearby, Cresco 52136 (22% sold over asking) is even more competitive.

Run the numbers for 50628

Prefilled for 50628Can I win this house?Multiple-offer likelihood for a listing Prefilled for 50628Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Chester 52134 — /sq ftCresco 52136Seller’s market $113 /sq ftLime Springs 52155Seller’s market $103 /sq ftProtivin 52163 — /sq ft Browse all markets →

Towns like Elma nearby

Find towns like Elma in other states →
Nashua, IA50658 · 23 miles away95% similarlarger Fredericksburg, IA50630 · 24 miles away84% similarpricier homes ($45K more) · older residents Harmony, MN55939 · 28 miles away84% similarpricier homes ($45K more) · older residents Brownsdale, MN55918 · 39 miles away84% similarmore homeowners

Where Elma is

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Questions about Elma real estate

Is Elma a buyer’s or seller’s market?

A seller’s market: there were 3.2 months of supply in Elma, IA 50628 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 Elma?

The typical home went under contract in 13 days in the latest three months.

Do homes in Elma sell over asking?

0% of homes sold above their original list price, and the typical sale closed at 85.3% of the list price.

What are property taxes in Elma?

About 1.25% of a home’s value a year in Howard County, or roughly $5,000 on a $400,000 home.

What is the median home price in Elma?

The median sale price was $25,489 in the three months ending August 31, 2026.

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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology