The breakdown of homes sold in North Liberty in 2011 is very different to either Iowa City or Coralville. If you’re getting your information from the national media you may want to take note of that. Considering how close North Liberty is to Coralville and Iowa City you’d expect more similarities, but they are truly all very different real estate markets. Looking at the bigger picture, the housing market is trending in the right direction in the greater Iowa City area. If you’re buying or selling a home in the area though you’ll need to drill it down a whole lot from there. That’s why I started these posts giving a breakdown of what is selling. Future posts will look at where houses are selling. For that I’ll be looking at school district, since often the school district a house is in will have an impact on desireability and ultimately on price.
So now back to breaking down home sales in North Liberty in 2011. Single family home sales in North Liberty were up by a little more than 13% in 2011 while zero lot sales are down by 21%. Condo sales are also down by just over 3%. What’s interesting to note is that zero lot sales in Coralville were up by 46% in 2011. I find it fascinating how buyer preferences change from year to year. Now if I could just figure out why that is I’m sure I could make a fortune!
| Average Price 2011 | Average Price 2010 | Median Price 2011 | Median Price 2010 | |
|---|---|---|---|---|
| Single Family | 239,611 | 241,194 | 220,500 | 220,000 |
| Condos | 122,508 | 118,330 | 125,000 | 118,350 |
| Zero Lots | 176,574 | 168,262 | 174,000 | 165,900 |
Source for data for this market report came from the Iowa City MLS January 9, 2011
