68 homes sold in Iowa City in July 2010 compared to 174 homes sold in July 2009. Quite the dip as you can see. It won’t come as a surprise to you to learn that the expiration of the first time homebuyer tax credit has had a significant impact on our market. The surprise would have been if that had not happened! Hopefully it levels out a bit now though and the numbers improve in August.
| Average Price Homes Sold July 2010 | $186,993 |
| Highest Price Home Sold: | $445,000 |
| Lowest Price Home Sold: | $65,000 |
| Average Price Homes Sold July 2009 | $183,765 |
| Highest Price Home Sold: | $635,000 |
| Lowest Price Home Sold: | $60,000 |
As far as the days on market are concerned. I use a simple method to calculate the absorption rate/days on market that doesn’t manipulate the data. According to that calculation right now we have 7.8 months of inventory on the market, that’s 238 days on market. This calculation does not take into account the different types of homes, location or different price ranges, so it’s not a huge help to you if you’re selling your home. If you’re selling a home you would need to look at the number of homes sold in your specific neighborhood in the same price range to figure out how many days on market you can expect when you list your home for sale.
If you need to sell your home in Iowa City and would like me to prepare a CMA (Current Market Analysis) with information of homes sold in your neighborhood please call me anytime at 319-400-0268 or click here to send me your contact details.
For a complete list of homes for sale in Iowa City just send me an email letting me know what you’re looking for and I’ll send you a complete list of homes meeting your criteria.
Iowa City Real Estate Market Report 2nd Qtr 2010
Coralville Real Estate Market Report July 2010
Coralville Real Estate Market Report 2nd Qtr 2010
North Liberty Real Estate Market Report July 2010
North Liberty Real Estate Market Report 2nd Qtr 2010
