2024 Finishes Strong in Waterloo/Cedar Falls Real Estate. Outlook is good for 2025.

The real estate market in Waterloo, Cedar Falls, and Waverly experienced notable trends in 2024, as detailed in Rally Appraisal's January 2025 Market Report. These cities, part of Iowa's dynamic housing landscape, saw fluctuations in sales volumes and median prices throughout the year.

Waterloo and Cedar Falls:

• First Quarter 2024: Sales increased by 1.47% compared to the same period in 2023, with the median sale price rising by 18.41% to $230,900.

• Second Quarter 2024: A 4.37% growth in sales was observed, and the median price climbed by 4.47% to $245,500.

• Third Quarter 2024: Sales experienced a slight decline of 1.89%, while the median price saw a modest increase of 0.52%, reaching $243,250.

• Fourth Quarter 2024: Sales rose by 12.45%; however, the median sale price decreased by 2.60% to $225,000.

The report highlights that while some Midwestern markets with declining populations faced challenges, Waterloo, Cedar Falls, and Waverly demonstrated resilience with overall positive trends in sales and pricing.

Looking ahead to 2025, the report suggests that interest rates are expected to remain similar to 2024 levels, ranging between 6-7%. This stability could lead to steady or slightly increased sales volumes and modest price appreciation in the housing market. However, rates exceeding 7% might dampen demand, whereas a drop below 6% could stimulate significant market activity.

In summary, the real estate markets in Waterloo, Cedar Falls, and Waverly showed resilience in 2024, with positive sales and pricing trends. The 2025 outlook appears stable, contingent upon interest rate developments and broader economic factors.