Is Merrill, IA 51038 a buyer’s or seller’s market?
Merrill is a seller’s market. With about 1.1 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 Merrill housing market right now
In the three months ending August 31, 2026, 0% of homes in Merrill, IA 51038 sold above their list price, the typical home went under contract in 16 days and there were 1.1 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. With only 3 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 (7 days then) and the median sale price held steady to $242,895. Overall, Merrill is less competitive than a year ago, which gives buyers more room.
Within Plymouth County, homes here sell faster than in 88% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.
Nearby, Akron 51001 (38% sold over asking) and Sioux City 51108 (22% sold over asking) are even more competitive.
Run the numbers for 51038
Nearby markets
Akron 51001Seller’s market $119 /sq ftHinton 51024Seller’s market $185 /sq ftKingsley 51028Buyer’s market $202 /sq ftLe Mars 51031Seller’s market $145 /sq ft Browse all markets →Towns like Merrill nearby
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Questions about Merrill real estate
Is Merrill a buyer’s or seller’s market?
A seller’s market: there were 1.1 months of supply in Merrill, IA 51038 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 Merrill?
The typical home went under contract in 16 days in the latest three months.
Do homes in Merrill sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 95.1% of the list price.
What are property taxes in Merrill?
About 1.07% of a home’s value a year in Plymouth County, or roughly $4,280 on a $400,000 home.
What is the median home price in Merrill?
The median sale price was $242,895 in the three months ending August 31, 2026, about $132 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