Home Sales in North Liberty jumped right back up again in August after that slight glitch in Home Sales in July. 57 homes sold in August compared to 34 in August 2011. That’s an impressive 67% increase in home sales in North Liberty compared to last year!
And just in case you’re looking for more proof that the North Liberty real estate market is hot at the moment, the absorption rate is down at a very low 3.4 months, that’s an average of 102 days on market. That’s very good news for sellers as more buyer activity and less homes on the market typically leads to higher prices.
When you look at the table below you’ll see that the good news continues with home prices up for single family homes, condos and zero lots in North Liberty in August, which isn’t at all surprising considering how low the inventory of homes on the market is in North Liberty at the moment.
Average Price August 2012 | Average Price August 2011 | Median Price August 2012 | Median Price August 2011 |
|
|---|---|---|---|---|
| Single Family | 259,838 | 211,064 | 245,000 | 216,200 |
| Condos | 128,114 | 123,683 | 127,500 | 126,950 |
| Zero Lots | 180,908 | 177,275 | 174,500 | 161.500 |
Altogether the trend in the housing market in North Liberty is looking good. Home Sales in North Liberty from January through August are up by 22%. Fall is just around the corner, and we’ll have to wait and see if this trend continues at the same strong pace throughout the winter months.
Want to talk through your options and figure out whether now is a good time for you to buy a home or list your home in North Liberty? 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 report pulled from the Iowa City MLS September 4, 2012
