Is Oelwein, IA 50662 a buyer’s or seller’s market?
Oelwein is a seller’s market. With about 3.7 months of supply and 28% 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 56% of U.S. ZIP codes, and #65 of 156 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 August 31, 2026. See the breakdown
The Oelwein housing market right now
In the three months ending August 31, 2026, 28% of homes in Oelwein, IA 50662 sold above their list price, the typical home went under contract in 30 days and there were 3.7 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 26 home sales.
Compared with the same period a year earlier, the share selling over asking rose from 17%, homes sold faster (69 days then) and the median sale price fell 9% to $119,948. Overall, Oelwein is more competitive than a year ago, so tougher for buyers.
Within Fayette County, homes here sell faster than in 60% of the county’s ZIP codes, and sell more often over asking than in any other ZIP code in the county. On our competition score, Oelwein ranks #65 of 156 IA ZIP codes with enough sales (score 54 out of 100).
Nearby, buyers who want less competition could look at Waucoma 52171 (0% sold over asking) or Wadena 52169 (0% sold over asking).
Run the numbers for 50662
Nearby markets
Arlington 50606 — /sq ftClermont 52135 $74 /sq ftElgin 52141Seller’s market $99 /sq ftFayette 52142Seller’s market $105 /sq ft Browse all markets →Towns like Oelwein nearby
Find towns like Oelwein in other states →Where Oelwein is
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Questions about Oelwein real estate
Is Oelwein a buyer’s or seller’s market?
A seller’s market: there were 3.7 months of supply in Oelwein, IA 50662 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 Oelwein?
The typical home went under contract in 30 days in the latest three months.
Do homes in Oelwein sell over asking?
28% of homes sold above their original list price, and the typical sale closed at 98.5% of the list price.
What are property taxes in Oelwein?
About 1.30% of a home’s value a year in Fayette County, or roughly $5,200 on a $400,000 home.
What is the median home price in Oelwein?
The median sale price was $119,948 in the three months ending August 31, 2026, about $68 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