North Liberty Real Estate Market Report February 2010

It’s the beginning of the month and time for a first look at home sales for February in the North Liberty area. Because of the seasonal nature of real estate it’s better to compare homes sold last year rather than last month.

Surprisingly home sales are down compared to last year in the North Liberty area. 17 homes sold in February 2010 in comparison to 23 in February 2009.* I say surprisingly, because North Liberty is one of the fastest growing towns in Iowa and home sales are strong in the area. Check out my market report for the greater Iowa City area 2009 and you’ll see what I mean. You may also want to check my weekly market updates in the coming weeks, I’m sure we’ll see this is just a glitch.

The median price of homes sold in February up at $160,000 compared to $135,900 in February 2009. That’s an increase of 18%. The average days on market was 125 days, compared to 103 days on market last year.

North Liberty has benefited from the The expanded homebuyer tax credit and now that some repeat buyers are also eligible it will certainly continue to have an effect on the North Liberty real estate market as we head towards spring. And remember, for this tax credit buyers need to have an accepted offer on a home by April 30,2010, so this will mean a lively couple of months coming up in North Liberty.

Buying or selling a home in North Liberty, we have an interesting market right now. I’m all for getting information out there, so check back frequently to see what’s going on in the North Liberty real estate market. Here’s a link to my weekly market update for this week.

The more you know before you buy or sell a home, the better shape you’ll be in when it comes to either listing a home for sale or making an offer on a home that’s currently on the market. Please do contact me with questions. I’m here to help!

*FYI – Oxford and Tiffin are included in the MLS data for North Liberty. 1 house sold in Tiffin and 1 in Oxford in February.