What Is the Average Home Price in Waverly Iowa Right Now in September 2026

The median home sale price in Waverly, Iowa sits in the low-to-mid $200,000s as of September 2026. That figure reflects closed sales over the past 90 days within the city limits. Depending on the source and the exact window of data, you may see median figures cited anywhere from roughly $195,000 to $230,000. The spread exists because Waverly's housing stock is genuinely diverse, ranging from modest two-bedroom bungalows near downtown to larger four-bedroom homes on the north and east sides of the city.

Median Sale Price

Based on recent transaction data, the median sale price for a single-family home in Waverly is approximately $210,000 to $220,000 in September 2026. That represents a modest increase from where prices stood in September 2025, when the median hovered closer to $195,000 to $205,000. The year-over-year gain of roughly 5 to 8 percent mirrors the broader trend across small Iowa cities that have seen steady demand without the sharp corrections felt in larger metro markets.

For context on how Waverly fits into the statewide picture, Redfin's Waverly housing market data tracks median sale prices and days on market in real time, which is a useful benchmark to check alongside any local estimate.

Price Per Square Foot

Price per square foot in Waverly currently runs between $110 and $145, depending on the home's condition, age, and location within the city. A fully updated 1,600-square-foot ranch on a quiet street on the northeast side will typically land at the higher end of that range. An older two-story home closer to the Cedar River corridor that needs cosmetic work will come in closer to $110 per square foot or below. Buyers using price per square foot as a comparison tool should account for lot size, garage situation, and basement finish, all of which shift the number considerably in a market like Waverly.

How Listings Are Moving

Homes priced accurately in Waverly are going under contract in roughly 20 to 35 days right now. That pace is slower than the frenzied 7 to 14-day absorption rates seen during the 2021 and 2022 peak, but it still reflects a market where well-priced inventory does not sit long. Overpriced listings, on the other hand, are accumulating days on market and sometimes requiring price reductions before attracting offers. The gap between a well-priced home and an aspirationally priced one is more visible in September 2026 than it was two or three years ago.

2. What Types of Homes Are Selling and at What Price Points

Waverly's housing stock is a genuine cross-section of Iowa residential architecture, and price points vary considerably by era and style. Understanding which category a home falls into helps buyers and sellers set realistic expectations before a listing goes live or an offer gets written.

Older Craftsman and Ranch Homes

Waverly has a solid inventory of homes built between the 1940s and 1970s, many of them Craftsman bungalows and single-story ranches on established lots with mature trees. These homes typically sell in the $140,000 to $195,000 range when they need updating, and can push toward $210,000 to $230,000 when kitchens, baths, and mechanicals have been modernized. Streets near Bremer Avenue and the older residential blocks west of Highway 218 contain a high concentration of this era of housing. Lot sizes in these areas often run 60 to 80 feet wide, with detached one-car garages that are common for the period.

Newer Construction and Split-Level Homes

Homes built from the 1980s through the early 2000s, including bi-levels and split-entry designs, make up a large share of Waverly's mid-range inventory. These properties typically have attached two-car garages, larger lot footprints on the north and east sides of the city, and finished lower levels. Sale prices for this category generally fall between $210,000 and $285,000, with the upper end reflecting homes that have been updated and sit on larger lots in the subdivisions that developed along the edges of the city over the past few decades.

True new construction in Waverly is limited but active. Custom builds and spec homes in newer subdivisions are pricing from the low $300,000s into the $400,000s depending on square footage and finish level. If you are considering a new build, lead times and lot availability are worth discussing early in the process, since buildable lots within the city limits are not abundant.

Acreage and Rural Properties Near Waverly

Bremer County properties just outside Waverly's city limits offer acreage options that are not available within the city itself. Rural residential properties with one to five acres and an existing home typically start around $250,000 and can reach $400,000 or more depending on the land, outbuildings, and home condition. Many of these properties are a 5 to 15-minute drive from Waverly's downtown and the Wartburg College campus, making them practical for buyers who want space without sacrificing proximity to town.

3. How Waverly Home Prices Compare to the Rest of Iowa

Waverly's median home price is meaningfully below the statewide Iowa median, which makes it an accessible market for buyers priced out of larger cities. Understanding that gap helps both buyers calibrate their expectations and sellers understand where their home sits in a broader competitive landscape.

Statewide Context

Iowa's statewide median home value in 2026 sits in the $230,000 to $250,000 range, driven upward by the Des Moines metro, Iowa City, and Cedar Rapids. Waverly's median of roughly $210,000 to $220,000 puts it below that statewide figure, which reflects its size as a city of approximately 10,000 residents rather than a major employment hub. For buyers relocating from the Des Moines or Cedar Rapids areas, Waverly's pricing can feel significantly more accessible for comparable square footage.

The Iowa housing market trends tracked by Zillow show how the statewide picture has shifted over the past two years, and they provide a useful reference point for anyone trying to understand where Waverly sits relative to Iowa's larger markets.

Bremer County Pricing Patterns

Within Bremer County, Waverly is the largest city and typically commands the highest prices, though the gap between Waverly and smaller communities like Sumner or Tripoli is not dramatic. Homes in those smaller towns can sell for $130,000 to $175,000, offering lower entry points for buyers willing to drive further for work or amenities. Waverly's price premium reflects its access to services, the presence of Wartburg College, and the fuller range of retail and dining options along Bremer Avenue and around the Hy-Vee and other commercial corridors.

4. What Is Driving Home Prices in Waverly Right Now

Several local and regional forces are shaping the Waverly housing market in September 2026. None of them alone explains the current price level, but together they create a picture of a market that is stable, moderately competitive, and unlikely to see sharp swings in either direction in the near term.

Inventory Levels This Fall

Active listings in Waverly remain below what would be considered a balanced market, which continues to put a floor under prices. A balanced market typically has four to six months of inventory. Waverly is currently running closer to two to three months of supply, meaning there are not enough homes for sale to satisfy all active buyers. That imbalance is less acute than it was in 2021 and 2022, but it is still enough to keep prices from retreating significantly even as buyer demand has moderated from its peak.

Interest Rates and Buyer Demand

Mortgage rates have been a significant factor in shaping who is actively shopping in Waverly this fall. Rates in the mid-to-upper 6 percent range, where they have been hovering through much of 2026, have priced some buyers out of the market or pushed them toward lower price points. At the same time, buyers who locked in rates in prior years and are sitting on equity are less motivated to sell, which is part of why inventory stays constrained. The result is a market with fewer transactions than 2021 but prices that have not dropped meaningfully.

Wartburg College and Local Employment

Wartburg College on Ninth Street Northwest is one of the steadiest anchors of Waverly's local economy. Faculty, staff, and administrators associated with the college represent a consistent pool of buyers and renters in the local market. Beyond Wartburg, Waverly's industrial base includes manufacturers and employers in the Bremer County area that draw workers from within commuting distance. The presence of steady, year-round employment keeps demand from evaporating the way it might in a community that relies on seasonal or single-industry work.

Waverly's recreational amenities also contribute to its appeal. The Cedar River runs through the city, and Kohlmann Park along with the city's trail network give residents outdoor access that is uncommon for a city of Waverly's size. Buyers relocating from larger Iowa cities often cite these features when explaining why they chose Waverly over other northeast Iowa communities.

5. What Buyers and Sellers Should Know Before Acting

Knowing the average home price in Waverly Iowa right now is useful, but it is only the starting point for making a sound decision. The actions that follow from that number look very different depending on whether you are buying or selling.

Advice for Buyers This Fall

Get pre-approved before you start touring homes seriously. In a market where well-priced homes in Waverly go under contract in three to five weeks, arriving without financing in place means you will lose properties while paperwork catches up. A local lender familiar with Iowa Rural Development loan programs or USDA eligibility in Bremer County can sometimes open options that a national lender overlooks.

Be realistic about what $200,000 to $230,000 buys in Waverly right now. At that price point, you are likely looking at a three-bedroom home with one or two baths, a one-car garage, and a lot that may need some attention. Homes with two-car attached garages and updated kitchens at that price are competitive and will draw multiple offers. Setting your expectations clearly before you start touring will save time and reduce frustration.

For a deeper look at what the buying process looks like in Waverly, the Waverly Iowa buyer's guide on this site covers the full process from search to closing in detail.

Advice for Sellers This Fall

Pricing accurately from the start is the single most important decision a Waverly seller can make in September 2026. Buyers in this market are informed. They are watching Redfin and Zillow, and they know when a listing is priced above comparable sales. Homes that launch too high and then reduce are stigmatized in small markets like Waverly, where the buyer pool is limited and word travels fast. A well-supported list price based on actual closed comps in the past 90 days will outperform an aspirational price almost every time.

Presentation still matters even in a supply-constrained market. Homes in Waverly that are professionally photographed, decluttered, and freshly painted in neutral tones consistently sell faster and closer to list price than homes that are listed as-is with phone photos. The investment in preparation is modest compared to the cost of a price reduction or an extended time on market.