North Liberty Real Estate Market Report January 2010

It’s the beginning of the month and time for a first look at home sales for January in the North Liberty area.

North Liberty bucks the trend in the area for January with homes sold up by 11% compared to last year. 20 homes sold in January 2010 in comparison to 18 in January 2009. Considering you really need to be motivated to buy a house in sub zero temperatures this is definitely good news.

The median price of homes sold in January was also up slightly at $142,125 compared to $138,700 January 2009. That’s an increase of 2%. The average days on market was 80 days.

North Liberty has benefited big time from the first time homebuyer tax credit and January continues in that trend. It will be interesting to see what effect  the expanded homebuyer tax credit for repeat buyers will have on the North Liberty real estate market as we head towards the home buying season. And remember, this tax credit is a limited time offer with little chance of being extended, so this could mean a lively couple of months coming up in North Liberty.

Buying or selling a home in North Liberty, it’s definitely a good time to keep an eye on the market.  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. A CMA – Current Market analysis – is something sellers are used to. I believe there is a benefit to buyers too before they make an offer on a home and provide a CMA for both buyer and seller clients.

Source for data: Iowa City Area MLS February 4, 2010

Iowa City Real Estate Market Report

Coralville Real Estate Market Report