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Downtown Cedar Rapids Multifamily Home for Sale
Why Live in Downtown Cedar Rapids
Downtown Cedar Rapids, straddling the Cedar River, has seen significant revitalization, transforming into a vibrant cultural hub. The area features a mix of new riverfront buildings and improved walkability, with a new bridge set to be completed in 2025. The neighborhood offers a variety of amenities, including shops, restaurants, breweries, and bars. Popular dining spots include Black Sheep Social Club, LP Street Food, and Need Pizza. Residents can enjoy coffee at Dash Coffee Roasters and shop for groceries at Hy-Vee. The Paramount Theatre hosts a range of events, and the annual farmers market features entertainment and numerous vendors. The Freedom Festival, leading up to July Fourth, includes parades and carnivals. Greene Square, the only park in the area, offers a modern art-inspired space for picnicking and gatherings. Cultural attractions include the National Czech & Slovak Museum and the Cedar Rapids Museum of Art. Housing primarily consists of condominiums in converted warehouses or new buildings, with many offering amenities like fitness centers and green spaces. Interstate 380 provides easy commuting, and Eastern Iowa Airport is an 8-mile drive away. While the area has experienced flooding, significant investments have been made in flood protection.
Home Trends in Downtown Cedar Rapids, IA
On average, homes in Downtown Cedar Rapids, Cedar Rapids sell after 62 days on the market compared to the national average of 50 days. The median sale price for homes in Downtown Cedar Rapids, Cedar Rapids over the last 12 months is $99,900, down 11% from the median home sale price over the previous 12 months.
Housing Trends
Median Sale Price
$99,900
Median Single Family Sale Price
$98,500
Median 2 Bedroom Sale Price
$98,900
Median 1 Bedroom Sale Price
$49,000
Average Price Per Sq Ft
$145
Number of Homes for Sale
5
Last 12 months Home Sales
9
Months of Supply
6.70
Median List Price
$102,000
Median Change From 1st List Price
2%
Median Home Sale Price YoY Change
-11%