20 homes sold in Coralville so far in November. 24 homes sold in November 2011 so we’re on track to match and maybe beat that number by the end of the month. 121 homes are currently listed on the Iowa City MLS showing as active and 15 homes are contingent or sale pending. Both of those numbers are good. The inventory is lower than last month. That alone isn’t surprising since many home sellers take their homes off the market for the Holidays. The good news is that the inventory of homes on the market is A LOT lower than last year too. I’ve been posting market reports so long that I can now look back at my own data for the previous year, which is very handy. Last year around this time there were 153 homes on the market compared to 121 that came up on my search today.
The absorption rate is also down from last month. The absorption rate is now at 4.4 months, that’s an average of 144 days on market. Last month it was 5.2 months and in November 2011 it was 6.9 months.
121 Active Listings
15 Homes Pending or Contingent
20 homes sold in Coralville in November to date – 14 Single Family Homes, 4 Condos, 2 Zero Lots
The Coralville IA real estate market is showing a very positive trend as we wind down to the end of 2012. Check back for updates to see if this trend continues in the coming months.
Want to talk through your options and figure out when the best time is to buy a home or sell your home in Coralville? Give me a call at 319-400-0268 or drop me an email. My approach is very straightforward. If you’re selling a home I’ll provide detailed market information and staging tips and give you an honest assessment of what you need to do to get your home sold in today’s market. If you’re buying a home I’ll help you find the right house to fit your lifestyle at the right price.
Data for this market update collected from the Iowa City MLS November 26, 2012