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

Similar to last month, home sales in March are down slightly again compared to last year in the North Liberty area.
31 homes sold in March 2010 in comparison to 33 in March 2009.* North Liberty is one of the fastest growing towns in Iowa and home sales are strong in the area, so this is a bit of a surprise. From my weekly market updates you’ll also see there are a growing number of homes under contract, so right now I’m going to assume that once they close this perceived drop in home sales of the last couple of months will correct itself.

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.