Home Sales in Coralville are up again in July. 48 homes sold in Coralville in July 2012 compared to 38 in July 2011. In both Iowa City and North Liberty home sales in July are down a tad, which makes the fact that home sales are up in Coralville even more noteworthy. When you look at the chart you’ll see that it’s single family homes and zero lots that are popular with buyers at the moment. Condo sales were down in July. That’s the least promising development from these numbers as the summer months are the peak selling time for condos.
The absorption rate is at 6.0 months, that’s an average of 180 days on market. The fact that the absorption rate is consistently going down every month is a measure of the continuing strength in the Coralville real estate market.
Average Price July 2012 | Average Price July 2011 | Median Price July 2012 | Median Price July 2011 |
|
|---|---|---|---|---|
| Single Family | 300,640 | 390,581 | 285,000 | 365,000 |
| Condos | 147,441 | 144,711 | 134,500 | 110,750 |
| Zero Lots | 154,808 | 147,211 | 138,750 | 147,500 |
So what exactly does all this data mean to you as a home buyer or home seller in Coralville?
If you’ve got a home to sell, homes are selling in Coralville and it’s a good time to get your home on the market. Of course you’ll need to be realistic about where you price it as there’s still a lot of competition. Selling a home is a cross between a price war and a beauty contest. If you want some help figuring out how to win both, give me a call I’m known for my candid assessment of a situation and will know what needs to be done to get your home sold!
If you’re thinking of buying a home, the same phrase is worth repeating, homes are selling in Coralville. If you see a home you like you should snap it up. The nicest homes that are fairly priced are going fast. You’ll miss out if you think about it too long. If you want some help getting the best house at the best price give me a call. To make smart decisions you’ll need all the facts and I can help with that.
Data for the market report for July collected from the Iowa City MLS August 6, 2012
