51 homes sold in North Liberty in July 2010 compared to 130 homes sold in July 2009. Not exactly encouraging numbers of course. Not that surprising though either considering the expiration of the homebuyer tax credit at the end of June. If you’ve been following my market reports you will know that North Liberty home sales have been the best in the area. Hopefully we see some kind of return to normal in August. Not sure what “normal” is? You’re in good company… Economists are talking about the “new normal” – I think it’s going to take us a few months to figure out exactly what that is.

When it comes to calculating the days on market I use a simple method to calculate the absorption rate/days on market that doesn’t manipulate the data. According to that calculation we have 5.0 months of inventory on the market, that’s 151 days on market. Much better than Iowa City and Coralville, although I would still hesitate to call it a sellers market, even though technically based on the absorption rate it is. The fact is that we have a price driven market. You probably have the opportunity to sell your home quicker in North Liberty, but only if you price it right. Market conditions in the last few years have lead to us seeing a rise in “value shoppers” and they’re not going away any time soon.

If you need to sell your home 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.

For a complete list of homes for sale in North Liberty just send me an email letting me know what you’re looking for and I’ll send you a list of homes fitting your criteria.

North Liberty Real Estate Market Report 2nd Qtr 2010

Iowa City Real Estate Market Report July 2010

Iowa City Real Estate Market Report 2nd Qtr 2010

Coralville Real Estate Market Report July 2010

Coralville Real Estate Market Report 2nd Qtr 2010

It looks like July will be a soft month for sales. Not really surprising considering the expiration of the tax credit on June 30. It was clear that the housing market would need time to correct after that. A couple more days until the end of the month and we will know more about that correction.

What does this mean for you as a buyer? We still have a price driven market so there are still great opportunities for buyers, plus the interest rates are at all time lows which means it’s really still a win-win situation for you.

The fact that we have a price driven market means that sellers probably won’t make as much as they would like on the sale of a home. On the up side, the turnover rate for homes is better in North Liberty and it is likely that your home will spend less time on the market than in Iowa City or Coralville. (Depending on the location of course, location is always king). Bear in mind too that buyers are looking for deals. Pricing it right is one part of the equation. Equally important is that it’s in pristine condition. Pricing your home right + seeing to it that it’s the shiny penny on the block will put you well on the way to selling your home quickly so you can move onto the next phase of your life.

If you need to sell your home and would like me to prepare a CMA (Current Market Analysis) please call me anytime at 319-400-0268 or click here to send me your contact details.

For a complete list of homes for sale in North Liberty just send me an email letting me know what you’re looking for and I’ll send you a list of homes fitting your criteria.

North Liberty real estate market report June 2010

North Liberty real estate market report 2nd Quarter: April – June 2010

109 homes sold in North Liberty in June 2010 compared to 80 homes sold in June 2009. That’s an increase of 36% and not surprisingly the best in the area. What jumps out in the graph above is that condo sales have increased by almost 47% compared to last year! If you look at the numbers for Iowa City and Coralville you will see that condo sales are on the rise there too. We have a market saturated with condos so this is great to see.

I don’t use the days on market calculated by the MLS. I use a simple method to calculate the absorption rate/days on market that doesn’t manipulate the data. According to that calculation we have 4.3 months of inventory on the market, that’s 130 days on market. Much better than Iowa City and Coralville, although I would still hesitate to call it a sellers market, even though technically based on the absorption rate it is. The fact is that we have a price driven market. You probably have the opportunity to sell your home quicker in North Liberty, but only if you price it right. Market conditions in the last few years have lead to us seeing a rise in “value shoppers” and they’re not going away any time soon.

If you need to sell your home in North Liberty and would like some advice on how to sell it for the best price in the shortest time please call me anytime at 319-400-0268 or click here to send me your contact details.

For a complete list of homes for sale in North Liberty just send me an email letting me know what you’re looking for and I’ll send you a list of homes fitting your criteria.

Iowa City Real Estate Market Report June 2010

Iowa City Real Estate Market Report 2nd Qtr 2010

Coralville Real Estate Market Report June 2010

Coralville Real Estate Market Report 2nd Qtr 2010

There were 55 homes sold in North Liberty in April 2010 compared to 42 homes sold in April 2009. That’s a nice solid 31% increase. The interesting thing is that condo sales dropped compared to last year while the sale of single family homes increased.

According to our MLS homes in North Liberty spent an average of 112 days on market in April 2010. This number is skewed as it doesn’t take into account the fact that some of the homes were re-listed and not new listings along with other variables. In my weekly reports I use a simple method to calculate the absorption rate/days on market that doesn’t manipulate the data. Although that is more accurate, it doesn’t take into account the different types of homes or different price ranges. If you’re selling a home both of those factors would play into how many days on market you can expect when you list your home for sale.

For a complete list of homes for sale in North Liberty just send me an email letting me know what you’re looking for and I’ll get right on it.

If you’re interested in selling your home for the best price in the shortest time please call me anytime at 319-400-0268 or click here to send me your contact details.

236 Active Listings
127 Under Contract
16 Homes Sold May 10 – May 15
5.0 Months Absorption Rate (Number of months it takes for the market to “absorb” homes).


How the absorption rate is calculated

Last week’s market report for North Liberty

North Liberty real estate market report April 2010

North Liberty real estate market report 1st Quarter: January – March 2010

266 Active Listings
119 Under Contract
5 Homes Sold March 29 – April 3, 2010
5.9  Months Absorption Rate (Number of months it takes for the market to “absorb” homes).

The absorption rate in North Liberty is down below 6 months again this week, making this a balanced market. And that pie is looking pretty good with all the homes under contract! 25 days and counting to take advantage of the homebuyer tax credit and meet the deadline of April 30 for an accepted offer. It’s going to be a busy month in North Liberty for sure.

Last week’s real estate market update for North Liberty

How the absorption rate is calculated

Real estate market report for North Liberty March 2010

31 homes sold in March 2010 in comparison to 33 in March 2009.

The median price of homes sold in March is down 6% ti $147,000 compared to $157,000 in March 2009 with an average of 108 days on market.

North Liberty has benefited from the The expanded homebuyer tax credit, as the large number of homes under contract, along with the drop in home prices shows. Buying or selling a home in North Liberty, we have an interesting market right now. It will be interesting to watch in the coming months.

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.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!

*Oxford and Tiffin are included in the MLS data for North Liberty. 2 houses sold in Tiffin in March, none sold in Oxford.

316 Active Listings
103 Under Contract
3 Homes Sold March 22 – March 27, 2010
6.8 Months Absorption Rate (Number of months it takes for the market to “absorb” homes).

The absorption rate in North Liberty jumped to 6.8 months this week. In all likelihood this number is skewed and will change when the 103 homes under contract start to close. 14 more homes went under offer last week as home buyers race to take advantage of the homebuyer tax credit and meet the deadline of April 30 for an accepted offer.

Last week’s real estate market update for North Liberty

How the absorption rate is calculated

Real estate market report for North Liberty February 2010

273 Active Listings
89 Under Contract
4 Homes Sold March 15 – March 21, 2010
5.9 Months Absorption Rate (Number of months it takes for the market to “absorb” homes).

The absorption rate in North Liberty is 5.9 months, a little higher than last week. Since the absorption rate is calculated using the numbers of homes sold this is likely to change when the large number of homes under contract start to close. North Liberty continues to benefit from the homebuyer tax credit as homebuyers race to meet the deadline of April 30 for an accepted offer.

Last week’s real estate market update for North Liberty

Real estate market report for North Liberty February 2010

257 Active Listings
76 Under Contract
2 Homes Sold March 8 – March 13, 2010
5.6 Months Absorption Rate (Number of months it takes for the market to “absorb” homes)

The absorption rate in North Liberty is 5.6 months and still trending towards a sellers market. When the 76 homes under contract start closing it will be sure to have a positive impact on the absorption rate. North Liberty continues to benefit from the homebuyer tax credit as homebuyers race to meet the deadline of April 30 for an accepted offer.

Last week’s real estate market update for North Liberty

Real estate market report for North Liberty February 2010