There were 195 homes sold in Iowa City in June 2010 compared to 173 homes sold in June 2009 – That’s a 13% increase over last year. The interesting thing for me is that it seems condos and zero lots are starting to make a comeback. That’s good, because we have a lot more of those around here than most places. (At least that’s what I’ve been told by folks relocating here).
| Average Price Homes Sold June 2010 | $191,413 |
| Highest Price Home Sold: | $675,000 |
| Lowest Price Home Sold: | $67,680 |
| Average Price Homes Sold June 2009 | $209,844 |
| Highest Price Home Sold: | $665,000 |
| Lowest Price Home Sold: | $87,500 |
I don’t use the days on market calculated by the MLS. I use a simple method to calculate the absorption rate/days on market that doesn’t manipulate the data. According to that calculation we have 7.7 months of inventory on the market, that’s 232 days on market. I should add that 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 both of those factors would need to be looked at as they play into how many days on market you can expect when you list your home for sale.
