Coralville IA Real Estate Market Report 3rd Quarter / July – September 2010 compared to July – September 2009
72 homes sold in the 3rd quarter 2010 compared to 101 homes sold in the 3rd quarter 2009. That’s a decrease of 29% over the same time period last year. Home sales were up by 37% in the 2nd quarter, a pretty good indication that the home buyer tax credit pulled sales forward. The surprising thing is that with the really low interest rate, (4.25% at the time of writing this), plus some great deals on homes we aren’t seeing more activity in the Coralville real estate market.
|Average Price Homes Sold 3rd Qtr 2010:||$231,681|
|Highest Price Home Sold:||$765,000|
|Lowest Price Home Sold:||$ 52,000|
Highest number of days on market: 345 days
Lowest number of days on market: 5 days
|Average Price Homes Sold 3rd Qtr 2009:||$221,590|
|Highest Price Home Sold:||$785,000|
|Lowest Price Home Sold:||$ 61,500|
Highest number of days on market: 323 days
Lowest number of days on market: 14 days
The source for the data used in all my market reports is from the Iowa City MLS. For the days on market/absorption rate I take numbers from the MLS and insert them into a simple Excel spread sheet. Right now we have 8.2 months of inventory on the market, that’s 247 days on market. Last month the absorption rate was 8.4 months, so we are moving in the right direction, albeit slowly. This calculation does not take into account the different types of homes, location or different price ranges, so it’s not a huge help to you if you’re selling your home in Coralville. If you’re selling a home in Coralville IA, you would need to look at the number of homes sold in your specific neighborhood in the same price range to get an idea how long it takes homes comparative to yours to sell in today’s market.
Are you looking for the right Realtor to help you navigate the complexities of the real estate market, all the while looking out for you and your money? Sound advice and guidance is just a phone call, text or email away. Call Denise now at 319-400-0268.