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Cedar Rapids Today

Wednesday, November 6, 2024

Fairfax home prices fall in the second half of 2017

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The median sale price of a home sold in the second half of 2017 in Fairfax fell by $107,350 while total sales decreased by 33.3%, according to BlockShopper.com.

From July through December of 2017, there were 26 homes sold, with a median sale price of $137,500 - a 43.8% decrease over the $244,850 median sale price for the same period of the previous year. There were 39 homes sold in Fairfax in the second half of 2016.

The median sales tax in Fairfax for 2017 was $3,172. In 2016, the median sales tax was $3,291. This marks an decrease of 3.6%. The effective property tax rate, using the median property tax and median home sale price as the basis, is 2.3%.

The following table compares Fairfax to other Linn County cities with similar median sales prices in the second half of 2017:

CityJuly - Dec. 2017 Home SalesJuly - Dec. 2016 Home Sales% change (Total Home Sales)July - Dec. 2017 Median Sales PriceJuly - Dec. 2016 Median Sales Price% change (Median Sales Price)
Palo3339-15.4%$219,000$158,00038.6%
Center Point3146-32.6%$195,000$153,95026.7%
Alburnett7616.7%$170,000$170,750-0.4%
Lisbon2038-47.4%$152,750$112,12536.2%
Marion486543-10.5%$150,000$175,000-14.3%
Fairfax2639-33.3%$137,500$244,850-43.8%
Cedar Rapids1,3441,2844.7%$130,000$117,97510.2%
Hiawatha6184-27.4%$129,900$141,000-7.9%
Springville1624-33.3%$118,500$132,500-10.6%
Central City272412.5%$89,000$107,000-16.8%
Coggon10911.1%$79,750$118,567-32.7%

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