Home Sales are up by an impressive 29% in Coralville for the the first half of 2012. 167 homes sold in Coralville January through June 2012 compared to 129 in the same time frame last year. When you look at the table below you’ll see that home prices in Coralville are up a tad too. The absorption rate is at 6.8 months, that’s an average of 206 days on market.
So what exactly does this data mean to you as a home buyer or home seller in Coralville?
If you’ve got a house to sell in Coralville, the increase in activity means your chances of selling your home in shorter time frame are better than they have been in the last couple of years. Don’t let all this good news about the Coralville real estate market fool you though. We’re not out of the woods yet. There are still a lot of houses on the market in Coralville and that means competition for you. Price and condition are more important than ever and both should be looked at carefully before putting your house on the market.
If you’re thinking of buying a home in Coralville we still have something of a buyer’s market. There are still too many houses on the market for that to change yet. At the same time, the Coralville real estate market is in a time of transition and well priced homes that show well are selling fast. If you see something you like, don’t think about it too long or you may miss out. It’s not just sellers that need to worry about competition, if you wait too long you may find the house you like sells while you’re still thinking about it!
Want to talk through your options and figure out whether now is a good time for you to buy a home or list your home in Coralville? Give me a call at 319-400-0268 or drop me an email. I’d love to hear from you!
Data for the market report for May collected from the Iowa City MLS July 10, 2012