Published November 5, 2026 in Market Update

The tightest part of this market has almost no room for buyers to wait

By JJ Johannes

Real estate, DOTW - CR Metro Under $400k

Rates are high. Freddie Mac put the 30-year fixed average at 7.24% as of October 29, 2026. That slows a lot of markets. But in parts of Cedar Rapids, it has not slowed much at all.

The Real Estate Data Aggregator counted homes across 12 ZIP codes in the Cedar Rapids metro for the three months ending August 31, 2026. The numbers tell very different stories depending on where you look.

The tightest ZIP: 52402

ZIP 52402 had just 0.6 months of supply, according to the Real Estate Data Aggregator. That is almost nothing. A balanced market sits around 4 to 6 months. Here, buyers have almost no room to wait.

The Real Estate Data Aggregator also showed 63% of homes in 52402 went under contract within two weeks of listing. That is nearly 2 in 3 homes. Homes for sale fell 68.5% from a year before. Fewer choices, faster decisions.

52405 is close behind

ZIP 52405 had 0.8 months of supply and a 5-day median market time, per the Real Estate Data Aggregator. That is the fastest median in the whole group. And 43.3% of homes sold above list price.

The Real Estate Data Aggregator counted 69.6% of 52405 homes going under contract within two weeks. That is the highest share of any ZIP in this market. Prices dipped 6.7% from a year before, so buyers who move fast can still find value here.

Marion and the rest of Cedar Rapids

Marion's 52302 had 1.4 months of supply and an 8-day median market time, according to the Real Estate Data Aggregator. Sales were up 16.1% from a year before. Prices held at $299,000, up 1.4%. More active, but still tight.

ZIP 52404 matched Marion's 8-day median. The Real Estate Data Aggregator showed prices up 10.6% to $237,745, and 41.3% of homes sold above list. Supply dropped 31.7% from a year before.

ZIP 52403 had 1.1 months of supply. Prices rose 7.9% to $221,000. Sales were up 20.5%, and pending sales jumped 24.1%, per the Real Estate Data Aggregator.

How the ZIPs compare on speed

Where things move slower

Not every ZIP is racing. Hiawatha's 52233 had a 70-day median market time, according to the Real Estate Data Aggregator. That is 2 days longer than a year before. But 55.1% of homes still sold above list, up 40.5 points from a year ago. Pricing matters a lot there.

Mount Vernon's 52314 had a 59-day median, up 38 days from a year before. Supply was 2 months. Prices rose 25.8% to $415,000. Sellers there need patience and a sharp price from day one.

Iowa City's 52245 had a 21-day median. Prices dipped 6.7% to $325,000. Sales fell 17%. It is the softest ZIP in this group, but supply still dropped 45.8% from a year before.

Months of supply across the market

What the rate environment means here

Freddie Mac put the 30-year fixed rate at 7.24% on October 29, 2026. Zillow reported that the typical mortgage payment in October was 12.8% higher than a year ago. That is a real cost for buyers.

Even so, the Real Estate Data Aggregator counted 1,161 homes sold across this market in just three months. And 1,047 were pending. Demand is still there, even with rates where they are.

Zillow also reported that newly pending listings fell 16.8% year over year in October, the biggest drop since August 2023. That is a national picture. In the tightest Cedar Rapids ZIPs, local demand is holding up better than the national trend.

What this means if you are buying

In 52402 and 52405, you have days, not weeks. Get pre-approved before you look. Know your number before you walk in. Nearly 44% of homes in those ZIPs sold above list price.

If you need more time to decide, look at 52245 or 52314. The pace is slower there. Just know prices and conditions still vary a lot street by street.

What this means if you are selling

Strong demand is concentrated. It does not cover every home in every ZIP. The Real Estate Data Aggregator showed 52233 at 70 days median, while 52405 sat at 5 days. Same metro, very different results.

Pricing right from day one still matters. Overpriced homes sit, even in a tight market. The homes that sold above list in these ZIPs were priced to draw competition, not to leave room to negotiate down.