511 Active Listings
96 Under Contract
5 Homes Sold Feb 15 – Feb 20
7.0 Months of inventory on the market
An absorption rate of 7 months means Iowa City remains a buyers market for now. Despite the extremely cold and long winter we’re having there are a lot of buyers out and about wanting to take advantage of the homebuyer tax credit and with 96 homes under contract things are looking promising for the spring market.
If you’re not familiar with the absorption rate, more than 6 months inventory of homes on the market is a buyers market. 6 months of inventory of homes is considered neutral and less than 6 months a sellers market. For more info here’s a link to a post I wrote a while back with more detailed info about the absorption rate.
Last week’s weekly market report
