Home sales in North Liberty were up by 22% in 2012. That’s a big improvement on the data on home sales that I shared last year when home sales in North Liberty were even for the year. Last week I wrote a post that took a broad look at the North Liberty real estate market in 2012. Today I have some charts and tables to share breaking the data down into monthly home sales, home styles and home prices in 2012.
As you can see from the chart, home sales were strongest in June and July. That’s typical for the North Liberty, Coralville and Iowa City area. I think this is probably quite typical in general for regions where the weather has an influence on the home buying pattern. Who wants to go touring homes in cold weather unless they have to? That’s certainly part of what shapes the Iowa City area real estate market. What makes it more extreme here though is the influence the University of Iowa and UI Hospitals have on the real estate market. There’s a lot of “coming and going” through the summer months and that reflects in home sales too.
So what does this data mean to you? If you’re a seller of thinking of listing your home in North Liberty, then don’t you want to do it when you know there will be A LOT of buyers out and about? If you calculate the time it takes for a buyer to find the right home, negotiate an offer and then look at the time it takes to process a loan, you can soon figure out that when a home sells in July there’s a good chance it was under contract a couple of months previous to that date. That’s of course ball parking it, but I think it expresses my point quite well. To sell your home in North Liberty in summer, your best bet is to have it on the market in spring. If you don’t list it until summer, then you might get lucky and get a quick offer with a quick closing, but it’s actually more likely that you’ll get a buyer in the fall – And as you can see from the chart, there aren’t as many buyers closing on homes in the fall….
This chart shows that single family home sales in North Liberty are up by 21% in 2012. Condo sales are up by 10%. Zero Lot sales are up by a huge 45% – This has to do with the growing trend in North Liberty for new construction zero lots. (The Autumn Ridge Subdivision springs to mind). Prices are up for all three – Single family homes, condos and zero lots – And that of course is good news!
Do you have a house to sell in North Liberty? I’m a straight talking Realtor who knows the ins and outs of the North Liberty real estate market and is happy to provide an honest assessment of your home’s value and discuss with you the best plan of action to get your home sold.
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 directly through the Iowa City MLS.
Data for this market report came from the Iowa City MLS January 24, 2013