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A Closer Look at Home Sales in Iowa City Jan – Dec 2011

Home sales in Iowa City were up slightly in 2011. Today I’m going to break it down into categories. Single family homes in Iowa City did a lot better than condos in 2011 with single family home sales up compared to 2010 by 12% while condo sales were down by 15%.

It’s not surprising that condo sales in Iowa City are down. Iowa City is a relocation destination and a good portion of the condo market is driven by students coming to the University of Iowa and residents moving to Iowa City for their residency at the UI Hospitals. Typically when they buy a home it’s with a view to selling it again in 3 to 4 years. In 2010 they had the first time homebuyer credit as an incentive, without that incentive it’s hardly surprising  that in the current economic climate they’re reluctant to take any chances on being stuck with something they can’t sell when they need to move again. With the economy moving upwards we may see a change in that trend in 2012. Especially since renting in Iowa City is certainly not a cheap alternative anymore!

Single family homes, condos and zero lots sold in iowa city January through December 2011

Thinking of buying or selling a home in Iowa City? When you’re ready to make your move please give me a call. I’m always happy to share information and help you figure out your options. 

Data for this market report came from the Iowa City MLS January 6, 2012

Filed Under: Iowa City Real Estate Market Reports Tagged With: homes sold iowa city, iowa city real estate market

About Denise Hamlin

I'm a Realtor and Broker Owner at Cardinal Realty in Coralville Iowa. Forward thinking and tech-savvy, my mission is always to find the best ways to ensure clients enjoy a smooth and stress-free buying or selling experience. Primary areas we cover are Iowa City, Coralville and North Liberty IA.

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Denise Hamlin, REALTOR® / Broker
319-400-0268
Cardinal Realty, Coralville IA 

Licensed Real Estate Broker in Iowa

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