10 homes sold in Coralville so far in October. That’s the same number of homes that sold in all of October 2011 - That’s a pretty good place to be with a week to go until the end of the month. 143 homes are currently listed on the Iowa City MLS showing as active and 23 homes are contingent or sale pending. Both of those numbers are good. The inventory is lower than last month and the number of homes with accepted offers is up compared to last month. Those are both positive developments, less homes on the market and more homes under contract is exactly what we want to see.
Considering all the good news, it won’t come as a surprise to learn that the absorption rate is also down from last month. The absorption rate is now at 5.2 months, that’s an average of 160 days on market.
143 Active Listings
23 Homes Pending or Contingent
10 homes sold in Coralville in October to date - 1 Single Family Home, 6 Condos, 3 Zero Lots
The good numbers point to a positive trend in the housing market in Coralville, but we really need to wait out winter before we get overly optimistic about the real estate market in Coralville. Check back for updates to see if this trend continues in the coming months. Or better yet Subscribe to My Blog and have updates on the Coralville housing market sent directly to your email.
Want to talk through your options and figure out whether now is a good time for you to buy a home or sell your home in Coralville? Give me a call at 319-400-0268 or drop me an email. My approach is very straightforward. I’ll help you figure out a strategy on how to get from A to B with the minimum amount of fuss.
Data for this market update collected from the Iowa City MLS October 24, 2012