Chain Lakes Bridge · Photo: Jim Roberts · CC BY-SA 4.041 homes sold in Palo in the last year, at a typical $305K
About one sale in 3 is a condo. Below: what each kind of home sells for, what your budget buys, the best months to buy, how hard you’ll have to bid, and a shortcut to every site where Palo homes are listed.
Every place Palo homes are listed, in one stop
We don’t copy listings: the agents’ sites have the photos and the latest price changes. Set what you want once and we open each site already filtered to Palo.
For sale
Rent
New, land & open houses
Links open the listing sites; TownRatings isn’t paid for them and doesn’t rank one above another. Rentals and government-owned homes come from sources outside the MLS.
29% of Palo’s sales are condos, at $77K less than a house
29 houses and 12 condos sold in the year to May 2026. Houses sell faster. Condos draw more bidding wars.
typical sale · 29 sold in 12 months
- Per square foot
- $174IA $158
- Days to sell
- 115
- Sold over asking
- 17%
- Listings with a price cut
- 34%
typical sale · 12 sold in 12 months
- Per square foot
- $179IA $165
- Days to sell
- 292
- Sold over asking
- 42%
About as many homes sell as usual, at 1.6 times the 2016 price
41 sales in the last year, against 64 in 2024 and a low of 22 in 2018. The typical sale went from $188K in 2016 to $305K.
Source: Redfin Data Center, MLS sales. Typical price and $/sq ft are the monthly medians, weighted by sales.
What $300K buys in Palo
Check a listing against what Palo homes sold for
Against the town’s median price per square foot over the last 12 months. A rough check: condition, lot and location within town move a price more than this can see.
Bidding wars in Palo are more common than before the pandemic, but a third fewer homes come up for sale
We read every month of Palo’s home sales since 2016 so you don’t have to. Each figure covers 12 months, because a single month in a town is too few sales to mean much. Latest: the year to May 2026, 41 sales.
If you’re buying in Palo
- Shop in October. It brings about 4 new listings a month, close to the busiest month, with fewer bidding wars (14% over asking).
- Bid near asking. Buyers paid 100% of the list price on average; 24% paid over.
- You’ll usually have time. Only 19% of homes go under contract within two weeks; the typical one takes 148 days.
Summer brings the homes; spring brings the bidding wars
July has the most new listings (about 5 a month), but March is the most competitive: 23% of March sales close over asking. October offers nearly as much choice with fewer homes bid up (14%). September has the least competition (14%) but only about 2 new listings.
Averages for each calendar month, 2015 on.
Nearly as heated as 2021, and about like Iowa as a whole
| Palo now | 2017–19 | 2021 peak | IA now | |
|---|---|---|---|---|
| Sold over askingShare of sales that closed above the list price | 24% | 14% | 33% | 22% |
| Gone within two weeksShare of homes under contract within 14 days | 19% | 1% | 0% | 36% |
| Listings with a price cutShare of homes for sale that cut their price | 24% | — | — | 27% |
| Price paid vs. askingAverage sale price ÷ list price | 100% | 98% | 99.1% | 97.7% |
| Days to sellMedian days from listing to contract | 148 | 90 | 106 | 45 |
6 homes for sale on a typical day
That’s 35% fewer than in 2017–19 and well under 2024’s 24.
1 in 4 listings has cut its price
24% in the last year, against — in 2017–19 and 27% across Iowa.
Houses and condos, year by year
A house typically sold for $327K in the last year (29 sales), a condo for $250K (12).
Median sale price, weighted by sales each month. Years with fewer than 4 sales of a type are left out.
Source: Redfin Data Center, city market tracker, January 2016 to May 2026 (MLS sales, not seasonally adjusted). Ratios are weighted by homes sold; price cuts by homes for sale.
Owning the typical Palo home costs about $1,948 a month
Price: Palo’s typical sale, last 12 months. Property tax at Palo’s 1.4% (median bill ÷ median value, Census ACS); insurance at 0.35% of price a year. Before PMI, HOA dues, upkeep and the tax deduction. Whether Palo is affordable on local pay is on Cost of living.
Six things worth knowing
New listings in July
The month with the most choice. September has the fewest, about 2.
Best time to buyProperty tax, a year
Of a home’s value: the median bill over the median home value. On a $305K home, about $4,280 a year.
Taxes vs. neighborsSchools
The schools grade for Palo, from test results, graduation and how much students grow.
Schools in PaloCheck the flood map
Flood insurance isn’t in a standard policy, and lenders require it in FEMA flood zones. Check the address before you make an offer.
Natural hazardsLook up any property
Assessed value, lot size and every past sale of a home you’re eyeing are public, at the town or county assessor and the registry of deeds.
Hiawatha, Atkins, Robins, Center Point, Cedar Rapids and Fairfax sell for less a square foot
The busier markets within 25 miles of Palo, by what sold. Prices, taxes and how far a paycheck goes next door are on Cost of living.
| Sold | Typical sale | $/sq ft | Over asking | Days to sell | |
|---|---|---|---|---|---|
| Cedar Rapids | 2,146 | $204K | $131 | 29% | 25 |
| Hiawatha | 133 | $304K | $150 | 23% | 89 |
| Fairfax | 45 | $355K | $150 | 33% | 52 |
| Palo | 41 | $305K | $171 | 24% | 148 |
| Center Point | 41 | $216K | $134 | 17% | 63 |
| Robins | 36 | $508K | $165 | 25% | 47 |
| Atkins | 24 | $300K | $136 | 21% | 42 |
Redfin Data Center, June 2025 to May 2026. Towns with fewer than 20 sales are left out, and Redfin doesn’t report every town separately.
Post your home to Palo, free
Selling it yourself, renting out an apartment or looking for a roommate? Post it to Palo. People who follow the town see it, and so do people comparing Palo with their own town. No commission, no listing fee.
Questions about buying a home in Palo
What do homes sell for in Palo, IA?
41 homes sold in the year to May 2026 at a typical $305K, $171 a square foot. Houses sold for about $327K, condos for about $250K.
Is Palo a buyer’s or seller’s market?
A seller’s market: 7 homes were for sale in May 2026 and 3 sold, about 2.3 months of supply. Buyers paid 100% of asking on average, and 24% of listings cut their price.
When is the best time to buy in Palo?
July brings the most new listings. The sales history shows which months have fewer bidding wars.
How much are property taxes in Palo?
About 1.4% of a home’s value a year. On a $305K home that’s near $4,280.
Where can I see homes for sale in Palo?
Zillow, Redfin, Realtor.com and Homes.com all carry Palo’s MLS listings; the search links above open each one filtered to Palo.
Sales, prices, days on market and listings: Redfin Data Center (MLS, monthly, not seasonally adjusted). Property tax rate: Census American Community Survey. Two-bedroom rent: HUD Fair Market Rent. Typical home value: Zillow Home Value Index. Schools grade: TownRatings (how grades work).