Iowa City – Average Price Homes Sold November: 2006 – 2010

December 8, 2010 By Leave a Comment
Iowa City - Average Price Homes Sold November - 2006 - 2010

Iowa City - Average Price Homes Sold November - 2006 - 2010

Thought it was high time I upgraded the graphs on my market reports. It’s been on my “to do” list for a while and yesterday I finally took the time to figure out how to create graphs in Excel. On Monday I looked at the number of homes sold in November. I collected data from the Iowa City MLS showing the number of homes sold in November from 2006 through 2010. Today I thought I’d follow up with the average price in the last five years. I’m starting with Iowa City, because that’s where I always start. I’ll follow with Coralville and North Liberty. Iowa City oddly enough did better than Coralville or North Liberty when it came to the number of homes sold in November. Looking at the average price in November it’s the other way around. In future graphs I’ll probably become more creative with color and photos, but for now I figured it was time to quit playing around and get the info out there!


Iowa City: Number of Homes Sold in November: 2006 – 2010

Coralville IA: Average Price Homes Sold November: 2006 – 2010

Coralville IA: Number of Homes Sold in November: 2006 – 2010

North Liberty IA: Average Price Homes Sold November: 2006 – 2010

North Liberty IA: Number of Homes Sold in November: 2006 – 2010

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

Weekly Real Estate Market Update Iowa City November 29, 2010

November 29, 2010 By Leave a Comment
Real estate market update iowa city november 29, 2010

Real estate market update iowa city november 29, 2010

440 Active Listings
39 Homes Under Contract
3 Homes Sold November 22 – November 27, 2010

~ 1128 Foster Rd – List Price $128,400 – Sold Price $123,000 – 179 days on market ~
~ 908 Willow St – List Price $164,900 – Sold Price $164,900 – 85 days on market ~
~ 313 Windsor Dr – List Price $198,500 – Sold Price $197,500 – 67 days on market ~

This is a snapshot of the Iowa City real estate market November 29, 2010.  2 single family homes and 1 condo sold last week. I think the take away from these stats is that homes sell nearer the asking price when they haven’t spent too much time on the market. Not exactly a new revelation, but certainly something that buyers and sellers have an easier time understanding when they see actual data.

The absorption rate for Iowa City is 6.8 months. This is the time it takes for the market to “absorb” homes. The first step in calculating the absorption rate is to find out how many homes sold in the past 12 months and how many are currently on the market. 773 homes sold in the last 12 months in Iowa City and there are currently 440 showing as active listings.

773/440 = 1.75 – That means the inventory of homes in Iowa City turned 1.75 times in the last 12 months.

Now we take the 12 months and divide it by 1.75 to come up with the absorption rate.

12/1.75 = 6.8 months = 207 days on market

What the absorption rate tells us that based on the current inventory the average time it takes a home to sell is 7.0 months. Calculating the absorption rate is just another way to get an indication of what’s happening in the Iowa City market. It’s not an exact science, it just gives us something to go on.
Last Week’s Weekly Market Update for Iowa City

Iowa City Real Estate Market Report October 2010

Iowa City Real Estate Market Report 3nd Quarter: July – September 2010

Iowa City Real Estate Market Report September 2010

Iowa City Real Estate Market Report August 2010

Iowa City Real Estate Market Report July 2010

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

Weekly Real Estate Market Update Iowa City November 22, 2010

November 22, 2010 By Leave a Comment
weekly market update iowa city november 22, 2010

weekly market update iowa city november 22, 2010

448 Active Listings
39 Homes Under Contract
10 Homes Sold November 15 – November 20, 2010

Average Price Homes Sold w/e November 20, 2010$182,040
Highest Price Home Sold:$342,000
Lowest Price Home Sold:$ 52,500


Highest number of days on market: 328 days
Lowest number of days on market: 25 days

This is a snapshot of the Iowa City real estate market November 22, 2010. 6 single family homes, 3 condos and 1 acreage sold last week.

The absorption rate for Iowa City is 7 months. This is the time it takes for the market to “absorb” homes. The first step in calculating the absorption rate is to find out how many homes sold in the past 12 months and how many are currently on the market. 778 homes sold in the last 12 months in Iowa City and there are currently 448 showing as active listings.

778/448 = 1.7 – That means the inventory of homes in Iowa City turned 1.7 times in the last 12 months.

Now we take the 12 months and divide it by 1.7 to come up with the absorption rate.

12/1.7 = 7.0 months = 211 days on market

What the absorption rate tells us that based on the current inventory the average time it takes a home to sell is 7.0 months. What the absorption rate does is give us an idea of what’s going on in the market. It’s not an exact science, it just gives us something to go on.


Last Week’s Weekly Market Update for Iowa City

Iowa City Real Estate Market Report October 2010

Iowa City Real Estate Market Report 3nd Quarter: July – September 2010

Iowa City Real Estate Market Report September 2010

Iowa City Real Estate Market Report August 2010

Iowa City Real Estate Market Report July 2010

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

Weekly Real Estate Market Update Iowa City November 8, 2010

November 8, 2010 By Leave a Comment
weekly real estate market update iowa city november 8, 2010

weekly real estate market update iowa city november 8, 2010

468 Active Listings
41 Homes Under Contract
8 Homes Sold November 1 – November 6, 2010

Average Price Homes Sold w/e November 6, 2010 $201,989
Highest Price Home Sold:$320,000
Lowest Price Home Sold:$ 74,000


Highest number of days on market: 260 days
Lowest number of days on market: 28 days

This is a snapshot of the Iowa City real estate market November 8, 2010. 8 homes sold last week – 6 single family homes and 2 condos.

The absorption rate for Iowa City is 6.7 months. This is the time it takes for the market to “absorb” homes.

In case you’re wondering how I came up with the 6.7 months, here’s the calculation: The first step in calculating the absorption rate is to find out how many homes sold in the past 12 months and how many are currently on the market. 820 homes sold in the last 12 months in Iowa City and there are currently 468 showing as active listings.

820/468 = 1.8 – That means the inventory of homes in Iowa City turned 1.8 times in the last 12 months.

Now we take the 12 months and divide it by 1.8 to come up with the absorption rate.

12/1.8 = 6.7 months = 201 days on market

What the absorption rate tells us that based on the current inventory the average time it takes a home in Iowa City to sell is 6.7 months. That means we still have a buyers market, although you probably already knew that without me doing this calculation! On the up side, the absorption rate/days on market has improved since this time last year. For most of us though, especially if you’re a seller I’m sure you’ll agree, it’s going a little slower than we would like.

Last Week’s Weekly Market Update for Iowa City

Iowa City Real Estate Market Report October 2010

Iowa City Real Estate Market Report 3nd Quarter: July – September 2010

Iowa City Real Estate Market Report September 2010

Iowa City Real Estate Market Report August 2010

Iowa City Real Estate Market Report July 2010

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

Iowa City Real Estate Market Report October 2010

November 3, 2010 By Leave a Comment
Iowa City real estate market report October 2010

Iowa City real estate market report October 2010

43 homes sold in Iowa City in October 2010 compared to 54 homes sold in October 2009. That’s a 20% decrease over last year – A pretty strong sign that the Iowa City real estate market is still struggling to find its feet again after the expiration of the home buyer tax credit. The economy is improving, interest rates are still in the low 4′s and there are great deals to be had on homes. Now that the election is over maybe people will re-focus their attention on these facts and we start to see a turnaround. Not wanting to sound like a broken record – Now is a really great time to be buying a home!

Average Price Homes Sold October 2010 $189,401
Highest Price Home Sold:$402,594
Lowest Price Home Sold:$  25,000


Highest number of days on market: 436 days
Lowest Number of days on market:  18 days

Average Price Homes Sold October 2009 $201,573
Highest Price Home Sold:$767,000
Lowest Price Home Sold:$  60,000


Highest number of days on market: 279 days
Lowest number of days on market: 14 days

I use an excel spreadsheet to calculate the absorption rate. According to that calculation we have  6.9 months of inventory on the market, that’s 209 days on market. That’s an improvement on last month when it was 7.5 months.

If you need to sell your home in Iowa City and would like me to prepare a CMA (Current Market Analysis) with information of homes sold in your neighborhood please call me anytime at 319-400-0268 or click here to send me your contact details.

Are you ready to buy a home in Iowa City? Do you have a real estate related question or a question about the area for me? Just send me an email letting me know how I can help.

Iowa City Real Estate Market Report 3rd Quarter 2010

Iowa City real estate market report September 2010

Iowa City real estate market report August 2010

Iowa City real estate market report July 2010

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