Spirit Lake, IA Housing Market
Cool MarketMetro-level monthly sale metrics for rental investors — prices, inventory, pace, and negotiation signals. Figures represent the Spirit Lake, IA metro area.
Data period: May 2026
Market snapshot
- Median sale price
- $420K
- Median days on market
- 57 days
- Months of supply
- 3.7
- Active inventory
- 203
- Homes sold
- 55
- Sale-to-list ratio
- 96.9%
- Listings with price drop
- 21.7%
- Data month
- May 2026
Pair this view with the rental property calculator, DSCR calculator, and cap rate calculator — or browse all calculators.
Rental Investor Snapshot
Labels below come from monthly sale-market indicators only. True cash flow requires local rent, taxes, insurance, vacancy, and expense assumptions — model those in the rental calculator, then sanity-check against sale-speed signals here.
- Market temperature
- Balanced
- Buyer leverage
- High
- Pricing signal vs. U.S. median
- Near U.S. median (price only)
- Investor fit (heuristic)
- Negotiation
Watch-outs
- Slower sales (longer days on market) can mean more time to diligence — but also weaker demand.
Suggested next step: Run a rental property analysis with your own rent, financing, vacancy, and expense assumptions — then sanity-check against this market's sale-speed and negotiation signals.
Cool Market
Buyer activity is slowing, creating more negotiating room.
Spirit Lake, IA market summary
The Spirit Lake, IA metro area housing market is cooling down. As of May 2026, the median home sale price is $420K, down 20.8% year-over-year. Homes are spending a median of 57 days on the market, 18.6% shorter than a year ago.
There are 203 homes for sale — 15.8% fewer than last year. With 3.7 months of supply, this is a seller's market. 66 new listings were added during this period, down 12.0% year-over-year.
Homes are selling for 96.9% of their list price on average, suggesting room for negotiation. 12.7% of homes sell above their asking price. 21.7% of listings have had a price drop.
Market Opportunity Score
Based on current market conditions
76
Contributing Factors
How This Market Compares
vs. National Median
vs. Iowa Median
Investor takeaway
The cooling market may present buying opportunities with less competition and more negotiating leverage. A significant share of sellers are cutting prices, which can signal motivated sellers and potential deals.
Spirit Lake, IA market trends
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Detailed market metrics
Median list price
$562K
Price per sq ft
$262
Sale-to-list ratio
96.9%
Months of supply
3.7
Sold above list
12.7%
Price drops
21.7%
New listings
66
↓ 12.0% YoY
Pending sales
64
Off market in 2 weeks
42.2%
Spirit Lake, IA housing market FAQs
What is the median home price in Spirit Lake, IA?
For the latest published month, the median sale price in Spirit Lake, IA is $420K. Median means half of homes sold above that price and half below — it is a useful benchmark, not a rule for every listing.
Is Spirit Lake, IA a buyer's or seller's market?
With about 3.7 months of supply, conditions often favor sellers (inventory is relatively tight versus sales pace). Buyers may need to move quickly and keep offers competitive.
How long do homes stay on the market in Spirit Lake, IA?
For the latest published month, the median days on market in Spirit Lake, IA is 57 days — half of homes went pending faster and half slower.
Is Spirit Lake, IA good for rental property investors?
Sale-market stats show how competitive buying is (speed, negotiation, inventory). They do not prove rent performance. Spirit Lake, IA can still work for rentals if the numbers work on a deal-by-deal basis — use local rent comps, financing, vacancy, and expenses in the rental property calculator.
How should investors analyze a rental property in Spirit Lake, IA?
Start with purchase price, financing, rent, vacancy, operating expenses, and capital repairs. Stress-test rates and rent. Will It Flow’s rental property calculator is built to translate those inputs into cash flow, DSCR, cap rate, and cash-on-cash return for Spirit Lake, IA deals.
Compare more Iowa metro markets
Explore nearby sale-market pace and pricing, then run a shortlist through the rental property calculator.
Des Moines, IA
$309K · 36d on market
Davenport, IA
$190K · 22d on market
Cedar Rapids, IA
$229K · 17d on market
Iowa City, IA
$335K · 36d on market
Waterloo, IA
$235K · 15d on market
Ames, IA
$279K · 20d on market
Sioux City, IA
$246K · 22d on market
Dubuque, IA
$266K · 35d on market
National context
Step up to the U.S. housing market hub for national trends, then browse top metro markets by sales activity.
Underwrite a Spirit Lake, IA deal with real numbers
Use Will It Flow for cash flow, DSCR, cap rate, and cash-on-cash return — free and fast.
Housing market data provided by Redfin, a national real estate brokerage. Not financial advice. Always consult a qualified professional before making investment decisions.