Coralville Real Estate Market Report January 2010
It’s the beginning of the month and time for a first look at home sales for January in the Coralville area.
The number of homes sold in Coralville was down in January compared to last year. 3 homes sold in January 2010 in comparison to 5 in January 2009. January is typically not a strong month and this year is no exception – You need to be really motivated to buy a house in sub zero temperatures!
The median price of homes sold in January was $180,000 with an average of 130 days on market. The median price is down by 25% from $239,900 in January 2009.
Coralville has not benefited greatly from the first time homebuyer tax credit and January continues in that trend. We’re hoping the expanded homebuyer tax credit for repeat buyers will influence the market place in the coming months and bring up those numbers as we head towards the home buying season. For now we just watch and wait.
Buying or selling a home in Coralville, it’s definitely a good time to keep an eye on the market. The more you know before you buy or sell a home, the better shape you’ll be in when it comes to either listing a home for sale or making an offer on a home that’s currently on the market. A CMA – Current Market analysis – is something sellers are used to. I believe there is a benefit to buyers too before they make an offer on a home and provide a CMA for both buyer and seller clients.
Source for data: Iowa City Area MLS February 3, 2010
Iowa City Real Estate Market Report
North Liberty Real Estate Market Report
