Is Spirit Lake, IA 51360 a buyer’s or seller’s market?

The Spirit Lake housing market right now

In the three months ending August 31, 2026, 15% of homes in Spirit Lake, IA 51360 sold above their list price, the typical home went under contract in 49 days and there were 6.1 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. That’s based on 62 home sales.

Compared with the same period a year earlier, the share selling over asking rose from 13%, homes sold faster (56 days then) and the median sale price rose 23% to $509,779. Overall, Spirit Lake is more competitive than a year ago, so tougher for buyers.

Within Dickinson County, homes here sell faster than in 80% of the county’s ZIP codes, and sell more often over asking than in 80%. On our competition score, Spirit Lake ranks #137 of 156 IA ZIP codes with enough sales (score 24 out of 100).

Nearby, buyers who want less competition could look at Terril 51364 (0% sold over asking) or Lake Park 51347 (0% sold over asking), while Milford 51351 (17% sold over asking) is even more competitive.