Home Sales in North Liberty IA February 2012

March 22, 2012 By Leave a Comment
Homes sold February 2012 in North Liberty Iowa

Surprisingly, and not in line with Coralville or Iowa City – Or with any number of other towns in Iowa for that matter – Home sales in North Liberty were down in February. 20 homes sold in North Liberty in February 2012 compared to 27 homes sold in 2011. With home sales trending in the right direction all over the place there’s only one way to treat this data and that’s as a glitch. That said, it’s also an opportunity for buyers in North Liberty as it indicates the real estate market in North Liberty is still somewhat volatile.

The absorption rate has gone up slightly to 5.4 months, that’s an average of 165 days on market for homes in North Liberty. (6 months absorption rate is a balanced market). The absorption rate in North Liberty is the lowest in the area. That’s a good sign as we head towards the prime selling time of the year.

Homes sold February 2012 in North Liberty Iowa

Average Price
Feb 2012		Average Price
Feb 2011		Median Price
Feb 2012		Median Price
Feb 2011
Single Family241,247263,605239,000245,000
Condos153,300140,429145,400143,500
Zero Lots190,712161,940185,000155,000

If you’ve got a house to sell in North Liberty IA, now is the time to get it on the market. You want to have your house on the market at a time when there are the most buyers out there to see it. And that just happens to be spring and early summer.

If you’re thinking of buying a home in North Liberty, it’s still very much a buyer’s market. We still have too much inventory on the market for that to change yet. Buyers continue to get the best of all worlds. Lots of inventory means buyers have lots of choices. Then there’s the fact that home prices are the lowest they’ve been for years. Add to that the phenomenally low interest rates right now and it doesn’t take too long to come up with the idea there’s really no better time to make your move as a buyer!

Whether you are buying or selling a house in North Liberty I’d love the opportunity to talk with you and discuss your options. You can either call 319-400-0268 or drop me an email. I know the Iowa City area real estate market and am always happy to share information. I look forward to hearing from you!

 

North Liberty IA Real Estate Market Report January 2012

Home Sales in North Liberty IA January – December 2011

 

Data for the North Liberty IA Market Report for February collected from the Iowa City MLS March 22, 2012

Filed Under: Monthly Market Reports, Real Estate Market Reports Tagged With: , , ,

Iowa City Real Estate – Market Update March 19, 2012

March 19, 2012 By Leave a Comment
Iowa City Real Estate Market Update March 19, 2012

March looks set to be the 9th straight month where we see in increase in home sales in Iowa City. 31 homes sold in Iowa City in March so far compared to 30 this time last year. 109 homes are listed as pending or contingent and 477 homes are currently showing as Active Listings on the Iowa City MLS.

The Absorption Rate is at 6.9 months. That’s an average of 210 days on market. If you follow the link you’ll find out more about how the absorption rate is calculated. The absorption rate is up quite a bit since the beginning of the year and  has to do with the fact that inventory of homes on the market is higher. Until homes start closing in greater numbers the absorption rate won’t go down since the calculation looks at both sets of data – the active listings AND the number of homes sold.   With the peak selling time just around the corner we can expect a lot of closings in the coming months and that will certainly have a positive impact on the absorption rate.

Iowa City Real Estate Market Update March 19, 2012

477 Active Listings
109 Homes Pending or Contingent
31 homes sold in Iowa City in March to date -  17 Single Family Homes, 10 Condos, 2 Zero lots and 2 Income / Investment properties

 

What’s the takeaway for buyers from the info in this market update? Home sales are up in Iowa City. At the same time the large number of homes on the market means opportunities for buyers. As long as there are more homes on the market than buyers to buy them, there will continue to be opportunities for buyers to get a great deal on price. Add to that the great interest rates and you can see that buyers can get a whole lot of house for the money in Iowa City in the current market.

The good news for sellers is that homes are selling again. The not so good news is that there’s A LOT of competition out there. If you want to sell your home in Iowa City it needs to be in great shape and priced right. Buyers have lots of choices and your house needs to stand out from the crowd to get noticed.

 

Whether you’re buying or selling a home in Iowa City I’d love to hear from you.  My philosophy about real estate is that it’s a service industry. I don’t subscribe to the idea that real estate agents “sell” homes. The most important thing to me is that you get the most out of your real estate transaction and I’ll go the extra mile to make sure that you do. When you’re ready to make your move please give me a call at 319-400-0268

 

Iowa City Real Estate Market Report February 2012 

Iowa City Real Estate Market Report January 2012

Home Sales in Iowa City by School District 2011

Home Sales in Iowa City January through December 2011

A Closer Look at Home Sales in Iowa City 2011

 

Data for this market update pulled from the Iowa City MLS March 19, 2012

Filed Under: Market Updates, Real Estate Market Reports Tagged With: , , ,

Home Sales on the rise in Coralville in February

March 8, 2012 By Leave a Comment
Number of Homes sold Coralville February 2012

18 homes sold in Coralville in February 2012 compared to 8 homes sold in February 2011. That’s a pretty impressive increase in home sales for Coralville.

The absorption rate is at 8.4 months, that’s an average of 254 days on market. (6 months absorption rate is a balanced market). Unsurprisingly that is up from last month. The number of active listings factors into how the absorption rate is calculated and with so many homes coming on the market as we head towards spring it makes total sense that the absorption rate is higher. That will change again once the prime selling season kicks in and the trend goes the other way with more homes selling than are being listed.

When you look at the table below you’ll see that single family home and zero lot sales are up significantly compared to last year. Single family home and condo prices are also holding strong, while zero lot prices have taken quite a hit since last year.

The most interesting fact for me when I look at the data for February home sales in Coralville is to see that higher priced homes and condo sales are on the rise. That’s a good thing as we have a lot of inventory of high end homes on the market in Coralville. It’s also a good sign that buyers feel more confident and ready to invest in higher priced homes again.

Number of Homes sold Coralville February 2012

 

Average Price
Feb 2012		Average Price
Feb 2011		Median Price
Feb 2012		Median Price
Feb 2011
Single Family224,522193,100179,800176,750
Condos312,631213,500299,000255.500
Zero Lots128,580141,700120.000141.700

If you’ve got a house to sell, now is the time to get it on the market. You want to have your house on the market at a time when there are the most buyers out there to see it. And that just happens to be spring and early summer.

If you’re thinking of buying a home in Coralville, we still have a buyers market and there are great opportunities for buyers. Add to that the insanely low interest rates right now and you can buy yourself a lot more house for less these days. Yes, lower interest rates equals lower monthly payments and you can afford more house than in the past!

Whether you are buying or selling a house in Coralville I’d love the opportunity to talk with you and discuss your options. You can either call 319-400-0268 or drop me an email. I keep on top of the Coralville and Iowa City real estate market and just love sharing information – I look forward to hearing from you!

 

 

Home Sales in Coralville January 2012 Compared to January 2011 

Home Sales in Coralville IA January – December 2011

Home Sales in Coralville by School District January – December 2011

Home Sales in Iowa City January 2012 Compared to January 2011

Home Sales in Iowa City January – December 2011

Home Sales in Iowa City by School District January – December 2011

 

Data for the market report for February collected from the Iowa City MLS March 8, 2012

Filed Under: Monthly Market Reports, Real Estate Market Reports Tagged With: , , ,

Iowa City Real Estate – Home Sales Hold Steady in February

March 5, 2012 By Leave a Comment
Homes sold in Iowa City February 2012 Compared to February 2011

Home Sales in Iowa City were up again in February.  22 homes sold in Iowa City February 2012 compared to 21 in February 2011. That’s not as impressive as January when home sales were up significantly compared to last year. I don’t think this means the Iowa City real estate market is slowing down though since there are currently 81 homes marked as contingent or sale pending right now on the Iowa City MLS, a really good sign that we have a lot of closings coming up!

The absorption rate has increased to 6.5 months, that’s an average of 196 days on market. The calculation for the absorption rate factors in the number of homes currently listed as active on the MLS. With spring just around the corner the number of homes on the market has risen quite a bit since last month, which is likely the explanation as to why the absorption rate / number of days on market is going up at the moment and not down.  (The link at the start of this paragraph takes you to a post I wrote a while back on how the absorption rate is calculated).

Homes sold in Iowa City February 2012 Compared to February 2011

Average Price
Feb 2012		Average Price
Feb 2011		Median Price
Feb 2012		Median Price
Feb 2011
Single Family204,157232,522190,944220,000
Condos223,360211,553220,000146,500

All the signs show that the real estate market in Iowa City is picking up. 8 straight months of positive data speaks for itself! If you have a house to sell, now would be a really good time to put that plan into action. Spring and early summer is typically the time in Iowa City when the most buyers are out and about.  Getting your house on the market when there are the most buyers to see it is a very good idea.  Not convinced yet? Want to talk through your options and figure out whether now is a good time for you to list your home in Iowa City?  Give me a call at 319-400-0268 or drop me an email. I won’t feed you a line – I’ll tell you what I think. Give me a call and put me to the test!

 

Iowa City Real Estate Market Report January 2012 

Home Sales in Iowa City January – December 2011

Home Sales in Iowa City by School District January – December 2011

 

Data for the market report for February collected from the Iowa City MLS March 5, 2012

Filed Under: Monthly Market Reports, Real Estate Market Reports Tagged With: , , ,

Home Sales Up in North Liberty IA in January 2012

February 29, 2012 By Leave a Comment
Home sales North Liberty IA January 2012

Lucky for me that February has an extra day this year so I can squeeze in my monthly market report for North Liberty at the last minute. Right in line with expectations Home sales in North Libery are up in January.  The numbers are almost as impressive as Iowa City. 26 homes sold in North Liberty January 2012 compared to 12 in 2011. That’s a 116% increase compared to an increase of 138% in Iowa City in January.

The absorption rate has dropped to 4.9 months, that’s an average of 150 days on market. (6 months absorption rate is a balanced market). 4.9 months absorption rate is technically a sellers market. It’s true that the number of homes sold is definitely on the rise in North Liberty. When you look at the table below you’ll see home prices are on the rise too. It’s worth noting that home prices are skewed by a few factors. One of them being that about half the homes sold in North Liberty in January were new construction and they typically sell close to or at asking price.

Home sales North Liberty IA January 2012

Average Price 2012Average Price 2011Median Price 2012Median Price 2011
Single Family234,576185,540234,750198,200
Condos121,789118,538138,900102.400
Zero Lots180,680164,950195,000164,950

It’s the competition from new construction that makes selling a home in North Liberty different to selling a home in Iowa City or Coralville. Not that they don’t have new construction in Iowa City or Coralville, just not as much. As we head towards Spring, if you’ve got a house to sell in North Liberty, now is a very good time to talk to a Realtor. This market report for North Liberty confirms that the housing market in North Liberty is definitely trending in the right direction. Condo sales are particularly encouraging.  What you need to know now is how that relates you and your house. Yes, there are more homes selling in North Liberty, but what are the chances of you getting the price you feel your home is worth? Only someone who really knows the North Liberty real estate market can help you figure that out.

Now is the time of course when I point out that I’d love the opportunity to talk with you and discuss what your options are when it comes to selling your home in North Liberty. You can call 319-400-0268 or drop me an email. I look forward to hearing from you!

Home Sales in North Liberty IA January – December 2011

 

Data for the market report for January collected from the Iowa City MLS February 29, 2012

Filed Under: Monthly Market Reports, Real Estate Market Reports Tagged With: ,
« Previous Page
Next Page »
Close
Close
Close
Create an Account
Already have an Account?
Please read our Privacy Policy and our Terms of Service