The national trends for home sales show rising prices and longer times on the market, and local real estate transfers over the last year reflect the national market. According to data from the Carroll County Assessor’s Office, 170 homes were sold within Carroll city limits in 2024 with an average price of just under $225,000. That is an 11 percent rise in sales and an 18 percent jump in price from 2023 to 2024. Mike Franey, co-owner of Mid-Iowa Insurance and Real Estate, says there are a few reasons for those increases.
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Franey adds homes were on the market for an average of 41 days in 2023, but that figure rose to nearly 52 days in 2024. Real estate markets are highly localized, and Franey says Carroll’s new-home builds are not keeping up with market demand, but the era of 50+ homes being built every year is gone.
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Franey says home ownership trends are not helping the market either. Traditionally, people started in cheaper homes and upgraded throughout their lives, but that is no longer the norm.
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It is difficult for homeowners to move on to a second home when availability and interest rates limit their ability to leave their current house. As a result, entry-level homes are being lived in for much longer periods.
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Home sales in other Carroll County communities are nearly an order of magnitude lower than in the City of Carroll. Coon Rapids had the next highest sales in 2024, with 22 sales at an average price of $141,191, followed by Manning, with 20 sales at an average of $153,220.