Coralville didn’t do quite as well as Iowa City in 2011 with home sales down a bit compared to 2010. 274 homes sold in Coralville from January through December 2011 compared to 298 in 2010. The good news is that just like Iowa City the second half of the year was stronger than the first half, as you can see in the chart below. The take away is when we look at the bigger picture that the housing market in Coralville is trending in the right direction, it’s a work in progress and we just need to be patient…
| Average Price 2011 | Average Price 2010 | Median Price 2011 | Median Price 2010 | |
|---|---|---|---|---|
| Single Family | 276,557 | 289,445 | 241,000 | 249,700 |
| Condos | 146,349 | 150,405 | 98,500 | 95,250 |
| Zero Lots | 143,872 | 142,713 | 138,500 | 137,000 |
When you look at the table you can see that home prices in Coralville are also down a bit compared to last year. That makes sense since there are still more homes on the market than buyers to buy them. As long as we have that dynamic in the real estate market in Coralville and the greater Iowa City area there will continue to be pressure on prices.
Are you ready to make your move? Buying or selling a home in Coralville I can help you figure out your options. Just give me a call at 319-400-0268.
Source for data for this market report was the Iowa City MLS January 3, 2012
