13 homes sold in Coralville in April 2011 compared to 35 in April 2010. Bear in mind the first time home buyer tax credit was in full swing last year. We can expect that to skew the numbers in my real estate market reports to the low side in the coming months. Contingent and pending sales are on the rise so hopefully through the summer months I’ll have more positive data to share with you. There are major shifts in the Coralville real estate market. Whether you’re buying or selling a home, knowing what’s going on in the market is critical information to have. It will help you decide how best to position yourself if you’re selling a home and help you decide on where you need to price you home for a quick sale. If you’re making an offer on a home you want to make sure you don’t offer more than market value.
You can stay on top of what’s going on in the Coralville real estate market by checking back often for updates. With warmer weather and increased buyer activity next month could look entirely different.
The average price for a single family home in Coralville in April 2011 was $222,286 compared to $251,688 in April 2010. The average price for a condo in Coralville was $92,667 in April 2011 compared to $176,222 in April 2010.
The median price for a single family home in Coralville in April 2011 was $235,500 in April 2011 compared to $208,450 in April 2010. The median price for a condo in Coralville was $94,000 in April 2011 compared to $92,500 in April 2010.
As far as the days on market are concerned, according to data from the Iowa City Area MLS, homes were on the market longer in April 2011 compared to April 2010. Single family homes spent an average of 97 days on market in April 2011 compared to 83 days in April 2010. Data for days on market is highly manipulated due to expired listings and re-listed properties so I’d suggest you talk to a Realtor about the actual absorption rate (aka days on market). MLS calculations are usually skewed low. Depending on the neighborhood you live in the average days on market could be higher.
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.
Source for data: Iowa City Area MLS May 19, 2011