June and July are the biggest months of the year for closings in the Iowa City area. My last market update looked at home sales in Iowa City where the number of homes sold in June are up by quite a bit compared to June 2011. Today I thought we’d take a look at Coralville. Right now home sales in Coralville are about the same as last year with 46 homes sold this month so far compared to 45 in the same time frame last year. Considering how busy it’s been around here lately my guess is we’ll make some headway in the next couple of days and home sales will be up by more at the end of the month.
It’s not really going out on a limb to expect to make headway when you look at the number of homes sale pending and contingent in Coralville. There are 64 homes Sale Pending or Contingent – At least a few of those will close in the next couple of days. (52 is the number of homes sold in June 2011 so that’s the number to beat). Currently 186 homes in Coralville are showing as Active Listings. All in all the numbers are looking pretty healthy as the real estate market in Coralville improves month for month. The year is flying by with half of the year over already. Next week I’ll take a look at the first 6 months home sales in Coralville so check back for that.
186 Active Listings
64 Homes Pending or Contingent
46 Homes Sold in June 2012 so far - 27 Single Family Homes, 8 Condo and 11 Zero Lots.
The Absorption Rate is at 7.2 months, that’s an average of 218 days on market. That’s not as good as Iowa City, but certainly heading in the right direction.
These numbers were pulled from the Iowa City MLS June 27, 2012.