Is Promise City, IA 52583 a buyer’s or seller’s market?

3 months ending August 31, 2026 · Source: Redfin

Promise City 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 list—Share of sales, last 3 months

Median sale-to-list—Sold price ÷ list price

Median days on market—Listing to accepted offer

Median price per sq ft—

The Promise City housing market right now

There haven’t been enough recent sales here for a detailed summary yet.

About the area

Wayne County, IA

Population	389
Median income	$52,083
Average income	$67,743
Median home value	$82,500
Median rent	$1,104/month
Owner-occupied	79% of homes
Median year built	1979

Natural hazard riskTornadoes (very high), extreme heat (relatively high), hail (relatively 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 52583; hazard risk from the FEMA National Risk Index for the census tracts in this ZIP code (not endorsed by FEMA).

Run the numbers for 52583

Prefilled for 52583Can I win this house?Multiple-offer likelihood for a listing Prefilled for 52583Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Allerton 50008 — /sq ft Corydon 50060Seller’s market $106 /sq ft Humeston 50123Seller’s market $58 /sq ft Lineville 50147 — /sq ft Browse all markets →

Where Promise City is

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Questions about Promise City real estate

What are property taxes in Promise City?

About 1.36% of a home’s value a year in Wayne County, or roughly $5,440 on a $400,000 home.

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More tools for 52583

Competition score Buyer leverage Negotiation room Compare with other ZIP codes True cost to buy Property taxes Closing costs Cash buyers Backup offer odds Home value Wayne County property taxes Wayne County loan limits Closing costs in Iowa Hottest ZIP codes in Iowa

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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology