Is Red Oak, IA 51566 a buyer’s or seller’s market?
Red Oak is a balanced market. With about 5.4 months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.
More competitive than 7% of U.S. ZIP codes, and #150 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 Red Oak housing market right now
In the three months ending August 31, 2026, 5% of homes in Red Oak, IA 51566 sold above their list price, the typical home went under contract in 53 days and there were 5.4 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. That’s based on 20 home sales.
Compared with the same period a year earlier, the share selling over asking fell from 15%, homes sold more slowly (30 days then) and the median sale price fell 23% to $144,937. Overall, Red Oak is less competitive than a year ago, which gives buyers more room.
On our competition score, Red Oak ranks #150 of 156 IA ZIP codes with enough sales (score 13 out of 100).
Nearby, buyers who want less competition could look at Stanton 51573 (0% sold over asking) or Villisca 50864 (0% sold over asking).
Run the numbers for 51566
Nearby markets
Elliott 51532 — /sq ftEmerson 51533 — /sq ftGrant 50847 — /sq ftStanton 51573Buyer’s market $79 /sq ft Browse all markets →Towns like Red Oak nearby
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Questions about Red Oak real estate
Is Red Oak a buyer’s or seller’s market?
A balanced market: there were 5.4 months of supply in Red Oak, IA 51566 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 Red Oak?
The typical home went under contract in 53 days in the latest three months.
Do homes in Red Oak sell over asking?
5% of homes sold above their original list price, and the typical sale closed at 94.4% of the list price.
What are property taxes in Red Oak?
About 1.65% of a home’s value a year in Montgomery County, or roughly $6,600 on a $400,000 home.
What is the median home price in Red Oak?
The median sale price was $144,937 in the three months ending August 31, 2026, about $109 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