The first month’s numbers are in and the real estate market in Coralville hasn’t kicked off quite as well as Iowa City. 13 Homes Sold in Coralville in January 2016 compared to 16 homes sold in January 2015. Just because home sales in Coralville are down a little for the month that doesn’t mean buyer activity isn’t up. There is plenty of buyer activity in Coralville with 26% of the homes currently listed on the MLS showing as contingent or sale pending – A sure sign there are lots of buyers out writing contracts. What the Coralville real estate market needs right now is more houses for those many buyers to choose from!
Homes Sold in Coralville January 31, 2016
Number of Homes Sold / Days on Market in Coralville
Sellers are always interested to know how long it takes for their homes in Coralville to sell and buyers like to know too as a long market time may give buyers leverage in the negotiating process. This month’s chart shows that the Coralville real estate market is trending towards a longer market time with almost half the homes sold in Coralville taking longer than 90 days to sell.
The real estate market is seasonal. It’s not at all surprising to see a longer market time in the winter months. That will change in the coming months as we head towards the spring market.
Contract to Listing Ratio Coralville January 31, 2016
Looking at the number of homes sold is a good indication of what buyers were doing in the last couple of months. To get a feel for what’s going on in “real time” it’s a good idea to look at the contract to listing ratio. The more homes there are under contract, the more buyers there are out and about actively writing contracts that will result in closings in the next weeks and months. 26% of the homes in Coralville currently listed on the MLS are under contract. More important this month is to note the low number of homes on the market in Coralville. As far as buyers in Coralville are concerned, the spring market is already here and they are out and about looking for homes to buy. What we need now is for more sellers to list their homes for sale so those buyers have more choices.
Whatever your goals are, hiring a good real estate agent will be your key to getting the best result in your real estate transaction. Buying or selling a home in Coralville, if you’re looking for the right Realtor to help you navigate the complexities of the real estate market, all the while looking out for you and your money, sound advice and guidance is just a phone call, text or email away. Call Denise now at 319-400-0268.
Data provided via the Iowa City MLS January 31, 2016