From April through June of 2020, there were 10 homes sold, with a median sale price of $194,450 - a 16.1% decrease over the $231,750 median sale price for the same period of the previous year. There were eight homes sold in Palo in the second quarter of 2019.
The median sales tax in Palo for the most recent year with available data, 2017, was $2,969, approximately 1.5% of the median home sale price for the second quarter of 2020.
The following table compares Palo to other Linn County cities with similar median sales prices in the second quarter of 2020:
| City | Apr. - June 2020 Home Sales | Apr. - June 2019 Home Sales | % change (Total Home Sales) | Apr. - June 2020 Median Sales Price | Apr. - June 2019 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Central City | 4 | 11 | -63.6% | $249,250 | $205,000 | 21.6% |
| Lisbon | 8 | 14 | -42.9% | $242,500 | $206,500 | 17.4% |
| Ely | 10 | 24 | -58.3% | $239,200 | $233,072.50 | 2.6% |
| Springville | 5 | 12 | -58.3% | $197,500 | $122,500 | 61.2% |
| Center Point | 17 | 24 | -29.2% | $194,500 | $151,500 | 28.4% |
| Palo | 10 | 8 | 25% | $194,450 | $231,750 | -16.1% |
| Marion | 189 | 285 | -33.7% | $184,500 | $174,500 | 5.7% |
| Hiawatha | 19 | 35 | -45.7% | $150,000 | $161,500 | -7.1% |
| Cedar Rapids | 546 | 842 | -35.2% | $148,500 | $144,950 | 2.4% |
| Bertram | 2 | 0 | - | $115,750 | $0 | - |
| Walker | 3 | 4 | -25% | $112,500 | $136,250 | -17.4% |
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