626 Active Listings
100 Homes Under Contract
34 Homes Sold June 21 – June 26, 2010

An average of 243 days on market = 8.0 Months Absorption Rate (Number of months it takes the market to “absorb” homes). This number is staying pretty steady at the moment. We still have a buyers market. It seems likely that the homebuyer tax credit has pulled home sales forward as activity is a little low for the time of the year.

More homes than buyers in the market place + historically low interest rates = Opportunities for Buyers.

If you’ve been thinking about buying a home now is definitely a good time to put that plan into action!

Last week’s real estate market update for Iowa City

Iowa City Real Estate Market Report May 2010

Iowa City Real Estate Market Report 1st Quarter: January – March 2010

617 Active Listings
155 Homes Under Contract
17 Homes Sold June 7 – June 12, 2010

An average of 243 days on market = 8.0 Months Absorption Rate (Number of months it takes the market to “absorb” homes). No change in the absorption rate this week compared to last week. We will probably see a difference in the coming weeks as we head towards the end of the month and the deadline for closing on home to qualify for the tax credit.

How the absorption rate is calculated

Last week’s real estate market update for Iowa City

Iowa City Real Estate Market Report April 2010

Iowa City Real Estate Market Report 1st Quarter: January – March 2010