245 Active Listings
54 Under Contract
7 Homes Sold Feb 15 – Feb 20
5.4 Months of inventory on the market

North Liberty is doing well with an absorption rate of 4.7 months and definitely trending towards a sellers market. With all the activity we have now and buyers out looking to take advantage of the homebuyer tax credit North Liberty is set to do very well in the spring.

If you’re not familiar with the absorption rate, more than 6 months of inventory of homes on the market is a buyers market, 6 months of inventory of homes is considered neutral and less than 6 months a sellers market. For more info here’s the first post I wrote where I included the absorption rate with an explanation of how it’s calculated.

Last week’s weekly report

511 Active Listings
96 Under Contract
5 Homes Sold Feb 15 – Feb 20
7.0 Months of inventory on the market

An absorption rate of 7 months means Iowa City remains a buyers market for now. Despite the extremely cold and long winter we’re having there are a lot of buyers out and about wanting to take advantage of the homebuyer tax credit and with 96 homes under contract things are looking promising for the spring market.

If you’re not familiar with the absorption rate, more than 6 months inventory of homes on the market is a buyers market. 6 months of inventory of homes  is considered neutral and less than 6 months a sellers market. For more info here’s a link to a post I wrote a while back with more detailed info about the absorption rate.

Last week’s weekly market report

505 Active Listings
80 Under Contract
2 Homes Sold Feb 8 – Feb 12
7.0 Months of inventory on the market

With an absorption rate of 7 months Iowa City remains a buyers market for now. There are lots of buyers out and about wanting to take advantage of the homebuyer tax credit and with 80 homes under contract it looks like we might see some changes in the market as we head towards the spring.

If you’re not familiar with the absorption rate, 6 months of inventory of homes on the market is considered neutral, less than 6 months a sellers market and of course more than 6 months as we have now a buyers market. For  more info here’s a link to a post I wrote a while back with some detailed info on how the absorption rate is calculated.