Market Trends
Market Trends in Iowa City, Coralville & North Liberty Iowa
Buying or Selling a home you’re probably wondering how the real estate market in Iowa City is doing… I think the best answer is to say that all things considered it’s doing pretty well. Iowa City is fortunate enough to have a fundamentally strong economic environment. You don’t need to take my word for that either. The AP has an interactive map of the US showing the economic stress index county by county. A stress index of 11 is bad. Johnson County is currently at at 5.52. The market indicators they use are the unemployment rate, (4.8%), the foreclosure rate, (0.20%) and the bankruptcy rate, (0.56%). Take a look for yourself, it’s a very cool map.
A major factor in the resilience of our economy is that we’re a relocation destination. We have the University of Iowa and the University of Iowa Hospitals as the largest employer in the area, not to mention national and international businesses like Procter & Gamble, Oral B Laboratories and Pearson. It’s safe to say Iowa City has a lot going for it…
Homes Sold 1st Qtr 2010 Compared to 1st Qtr 2009
| Area | Homes Sold | Median Price | Days on Market | |||
|---|---|---|---|---|---|---|
|
Year |
Jan-March 2010 |
Jan-March 2009 |
Jan-March 2010 | Jan-March 2009 |
Jan-March 2010 |
Jan-March 2009 |
| Iowa City | 87 | 88 | $156,000 | $172,950 | 111 | 104 |
| Coralville | 35 | 36 | $210.000 | $174,500 | 113 | 127 |
| North Liberty | 65 | 58 | $149,000 | $139,900 | 103 | 122 |
Source: Iowa City MLS April 30, 2010
North Liberty continues to lead the pack in home sales in the area. Other than that homes sales are flat for the 1st quarter. That may be a little misleading though, because we actually have a A LOT of homes under contract that will close before June 30 to enable buyers to take advantage of the home buyer tax credit. I post weekly real estate market updates on my blog where you can see exactly what I’m talking about.
For a complete list of homes for sale meeting your criteria please call or click here to request an update.
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 an email requesting more info.
*Data provided is deemed to be accurate, but not guaranteed. For more statistics and in depth analysis of current market conditions, please contact me directly.
