505 Active Listings
80 Under Contract
2 Homes Sold Feb 8 – Feb 12
7.0 Months of inventory on the market
With an absorption rate of 7 months Iowa City remains a buyers market for now. There are lots of buyers out and about wanting to take advantage of the homebuyer tax credit and with 80 homes under contract it looks like we might see some changes in the market as we head towards the spring.
If you’re not familiar with the absorption rate, 6 months of inventory of homes on the market is considered neutral, less than 6 months a sellers market and of course more than 6 months as we have now a buyers market. For more info here’s a link to a post I wrote a while back with some detailed info on how the absorption rate is calculated.
