Published October 29, 2026 in Market Update

The tightest part of CR Metro under $400k is moving at a pace many markets aren't seeing

By JJ Johannes

Real estate, DOTW - CR Metro Under $400k

You've heard the national headlines. Realtor.com reported that 20.8% of listings had price cuts in September 2026, the highest share since October 2022. Mortgage rates are over 7%, according to Realtor.com. That's the national picture. Parts of the CR Metro under $400k are reading very differently.

These numbers cover the three months ending August 31, 2026. That's the period. Keep that in mind as you read.

The fastest ZIP in this market: 52405

ZIP 52405 in Cedar Rapids had a median of 5 days on market, according to the Real Estate Data Aggregator. That's the fastest of any ZIP in this group. Supply sat at just 0.8 months. Nearly 7 in 10 homes, 69.6%, went under contract within two weeks of listing.

The median sale price in 52405 was $205,750, down 6.7% from a year ago per the Real Estate Data Aggregator. So prices dipped a little here. But homes are still selling fast and often above list. Pricing right matters more than ever in a ZIP like this.

ZIP 52402 is close behind

The Real Estate Data Aggregator counted 6 median days on market in ZIP 52402, with 0.6 months of supply. That's the tightest supply of any ZIP in this group. The median sale price was $217,000, up 7.4% from a year ago. And 43.8% of homes sold above list price, up 16 points from the same period in 2025.

How the ZIPs stack up on speed

Hiawatha (52233) and Mount Vernon (52314) are a different story. The Real Estate Data Aggregator counted 70 median days on market in 52233 and 59 in 52314. Not every ZIP in this market moves fast. That gap matters if you're buying or selling in those areas.

Supply is tight across most of the market

Selling above list is common in the tightest ZIPs

Hiawatha (52233) had the highest share of above-list sales in the group. The Real Estate Data Aggregator counted 55.1% of homes selling above list, up 40.5 points from a year ago. That's a big jump. But the 70-day median tells you it's not a simple story there.

What this means if you're buying

In 52405 and 52402, you need a clean offer ready before you tour. The Real Estate Data Aggregator shows 63% to 69.6% of homes in those ZIPs went under contract within two weeks. That leaves little room to think it over.

Freddie Mac put the 30-year fixed rate at 7.32% as of October 22, 2026. That affects what you can afford. Know your number before you make an offer.

If you want more time, ZIPs like 52314 and 52233 have longer days on market. But their median prices are closer to $400k, and supply is tighter than it looks nationally.

What this means if you're selling

In the fastest ZIPs, pricing right still gives you a real edge. The Real Estate Data Aggregator shows the average sale in 52402 came in at 100.5% of list. In 52405, it was 99.5%. Homes priced well are still getting full price or better.

Nationally, Realtor.com counted 20.8% of listings with price cuts in September 2026. In 52402 and 52405, the data tells a different story. But price too high and you'll feel the national trend instead.

The whole market together

The Real Estate Data Aggregator counted 1,161 homes sold and 1,106 new listings across this market in those three months. Demand is keeping pace with supply in most of these ZIPs.