623 Active Listings
126 Homes Under Contract
40 Homes Sold June 14 – June 19, 2010
An average of 245 days on market = 8.1 Months Absorption Rate (Number of months it takes the market to “absorb” homes). This number is staying pretty steady at the moment. In other words we still have a buyers market. It seems the homebuyer tax credit may have pulled home sales forward as right now activity is a little low for the time of the year. What does it mean? It means if you’ve been thinking about buying a home now is definitely a good time to put that plan into action!
More homes than buyers in the market place + historically low interest rates = Opportunities for Buyers.
For sellers it means we have a price driven market. Make sure you have the facts about your neighborhood before you put your home on the market. Pricing it right will give you the edge on the competition and mean the difference between your home getting sold or languishing on the market.
How the absorption rate is calculated
Last week’s real estate market update for Iowa City
Iowa City Real Estate Market Report May 2010
Iowa City Real Estate Market Report 1st Quarter: January – March 2010
