Is Peterson, IA 51047 a buyer’s or seller’s market?

3 months ending August 31, 2026 · Source: Redfin

Peterson is a balanced market. With about null months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.

Months of supply—Under 4 months = seller’s market

Sold above original list0%Share of sales, last 3 months

Median sale-to-list95.8%Sold price ÷ list price

Median days on market25Listing to accepted offer

Median price per sq ft$89▼ −2.4% vs. last year

The Peterson housing market right now

In the three months ending August 31, 2026, 0% of homes in Peterson, IA 51047 sold above their list price and the typical home went under contract in 25 days. 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 (91 days then) and the median sale price fell 42% to $66,971. Overall, Peterson is more competitive than a year ago, so tougher for buyers.

Within Clay County, homes here sell faster 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, Fostoria 51340 (100% sold over asking) and Everly 51338 (20% sold over asking) are even more competitive.

About the area

Clay County, IA

Population	693
Median income	$101,000
Average income	$174,684
Median home value	$130,300
Median rent	$925/month
Owner-occupied	89% of homes
Median year built	1938

Natural hazard riskTornadoes (very high), winter storms (very high), hail (very high)

Source: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates (household income; home value as estimated by owners), ZIP code tabulation area 51047; hazard risk from the FEMA National Risk Index for the census tracts in this ZIP code (not endorsed by FEMA).

Run the numbers for 51047

Prefilled for 51047Can I win this house?Multiple-offer likelihood for a listing Prefilled for 51047Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Everly 51338Seller’s market $77 /sq ft Fostoria 51340Buyer’s market $32 /sq ft Greenville 51343 — /sq ft Linn Grove 51033Buyer’s market $39 /sq ft Browse all markets →

Where Peterson is

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Questions about Peterson real estate

How fast do homes sell in Peterson?

The typical home went under contract in 25 days in the latest three months.

Do homes in Peterson sell over asking?

0% of homes sold above their original list price, and the typical sale closed at 95.8% of the list price.

What are property taxes in Peterson?

About 1.15% of a home’s value a year in Clay County, or roughly $4,600 on a $400,000 home.

What is the median home price in Peterson?

The median sale price was $66,971 in the three months ending August 31, 2026, about $89 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