Year End Market Report for 2014 and Trends for 2015
How is the Coralville real estate market doing? Based on past and current performance, what can we expect from the Coralville real estate market in 2015? Last week I looked at Home Sales and Home Prices in Coralville as a whole. Today I’m breaking it down to styles of homes sold in Coralville in 2014.
The chart below paints an interesting story. Single Family Home and Zero Lot sales are down for the year, while condo sales are up. I’m sure the lack of inventory of homes on the market in Coralville in the peak selling time of the year is the biggest reason for the shortfall in single family and zero lot sales. There would have been more upward movement in the Coralville real estate market if there were more homes on the market! On the up side, condo sales are up. Condos are back in style in all price ranges in Coralville. Single family home prices are also up.The drop in the average and median price for condos is not a reflection of the actual market. It’s skewed by the fact that so many lower priced condos sold in Coralville in 2014. During the downturn buyers stayed away and the condo market suffered from that. The tide has turned in the last year or so and that’s reflected in the upswing in what was a troubled area of the market.
The market has been busy through the Fall and Winter months in Coralville. There are buyers out looking for homes in Coralville. What they don’t have is a lot of choice when it comes to homes to buy. That needs to change and more sellers need to get into the game in Coralville before we see any big improvement in the real estate market in Coralville in 2015.
Chart showing breakdown of Home Sales in Coralville 2014
Average & Median Price: Homes Sold in Coralville 2014
Looking to buy a home in Coralville? Hiring a (good) Buyer’s Agent will be your first step to ensuring yours is a smooth and easy real estate transaction. In fact in a real estate market short on inventory a good agent is the best friend you can have. She’ll be the one watching the market for you when you’re busy taking care of your everyday routine. How else can you be sure you’re not missing out on a “hot” property? When you’re ready to work with an agent completely committed to finding you the right home to fit your lifestyle, at the right price of course, Call Denise at 319-400-0268. You really can’t put a price on piece of mind!
Got a house, condo or zero lot to sell in Coralville? There are opportunities for sellers in Coralville in a market so short on inventory. Give Denise a call at 319-400-0268 for personal, effective real estate services with a hi-tech advantage. Even in a hot market homes don’t sell themselves. A successful real estate transaction has nothing to do with chance or luck – Every SOLD Sign starts with a plan! Hire an agent who is completely committed to the success of your real estate transaction. Call today to get started on getting that SOLD Sign in your yard!
Data for this market report pulled from the Iowa City MLS January 22, 2015