There were 96 homes sold in Iowa City in May 2010 compared to 78 homes sold in May 2009 – That’s a 23% increase over last year. The home buyer tax credit has definitely worked in our area with strong sales in both April and May and the likelihood that June will be even stronger as the deadline for the tax credit approaches.
| Average Price Homes Sold May 2010 | $183,109 |
| Highest Price Home Sold: | $567,500 |
| Lowest Price Home Sold: | $81,000 |
| Average Price Homes Sold May 2009 | $189,555 |
| Highest Price Home Sold: | $653,000 |
| Lowest Price Home Sold: | $72,900 |
According to our MLS homes spent an average of 83 days on market in May 2010. This number is skewed as it doesn’t take into account the fact that some of the homes were re-listed and not new listings along with other variables. For my weekly updates 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 8 months of inventory on the market – a pretty big variance to the MLS calculated number! Neither of the calculations take into account the different types of homes or different price ranges, so should be taken with a pinch of salt. 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.
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.
If you’re interested in selling your home for the best price in the shortest time please call me anytime at 319-400-0268 or click here to send me your contact details.
Coralville Real Estate Market Report May 2010
North Liberty Real Estate Market Report May 2010
