209 Active Listings
17 Homes Under Contract
2 Homes Sold week ending October 23, 2010
225E Dovetail Dr, Coralville – List price $334,200 – Sold price – $315,000 – 142 days on market
3241 Kelsey Ln, Coralville – List price $285,900 – Sold price – $283,000 – 141 days on market
This is a snapshot of the Coralville IA real estate market October 25, 2010. 2 single family homes sold last week, both in in the +$250,000 range. The absorption rate for Coralville is 8.1 months. That’s the time it takes for the market to “absorb” homes.
In case you’re wondering how I came up with the 8.1 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. 311 homes sold in the last 12 months in Coralville and there are currently 209 showing as active listings.
311/209 = 1.48 – That means the inventory of homes turned 1.48 times in the last 12 months.
Now we take the 12 months and divide it by 1.48 to come up with the absorption rate.
12/1.48 = 8.1 months = 243 days
This time last year the absorption rate in Coralville was about 11 months. Even though the market may be slow picking up the absorption rate shows us that we are getting there…
Are you looking to buy a home in Coralville? 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.
If you need to sell your home in Coralville 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.
Last week’s weekly market update for Coralville
Homes Sold – Iowa City – Coralville – North Liberty IA – January – September 2010
Coralville IA real estate market report 3rd Qtr – July – September 2010
Coralville IA real estate market report September 2010
Coralville IA real estate market report August 2010
Coralville IA real estate market report July 2010
