Is Underwood, IA 51576 a buyer’s or seller’s market?
Underwood is a seller’s market. With about 0.6 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 Underwood housing market right now
In the three months ending August 31, 2026, 0% of homes in Underwood, IA 51576 sold above their list price, the typical home went under contract in 37 days and there were 0.6 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. With only 5 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 faster (128 days then) and the median sale price rose 17% to $369,840. Overall, Underwood is more competitive than a year ago, so tougher for buyers.
Within Pottawattamie County, homes here sell more slowly 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, Treynor 51575 (100% sold over asking) and Walnut 51577 (100% sold over asking) are even more competitive.
Run the numbers for 51576
Nearby markets
Avoca 51521Balanced $73 /sq ftCarson 51525Seller’s market $174 /sq ftCarter Lake 51510Seller’s market $176 /sq ftCouncil Bluffs 51501Seller’s market $156 /sq ft Browse all markets →Towns like Underwood nearby
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Questions about Underwood real estate
Is Underwood a buyer’s or seller’s market?
A seller’s market: there were 0.6 months of supply in Underwood, IA 51576 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 Underwood?
The typical home went under contract in 37 days in the latest three months.
Do homes in Underwood sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 97.6% of the list price.
What are property taxes in Underwood?
About 1.57% of a home’s value a year in Pottawattamie County, or roughly $6,280 on a $400,000 home.
What is the median home price in Underwood?
The median sale price was $369,840 in the three months ending August 31, 2026, about $180 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