Today I decided to take a quick look to see what’s going on in the Coralville real estate market. Of course not nearly as many homes sell in Coralville as in Iowa City. (Hardly surprising since Coralville has a population of less than 20,000 compared to Iowa City’s 67,000). At any rate, with the market winding down after the summer I figured this is a good time to “take the pulse” of how the Coralville real estate market is trending. Apart from being a “stats fiend,” I live in Coralville, so it’s of particular interest to me.
6 homes sold in Coralville in September to date compared to 5 homes sold last year by September 13. There are 16 homes Sale Pending or Contingent. (Sale Pending or Contingent means they have accepted offers that may still have contingencies on them to fulfill before closing). Currently 177 homes in Coralville are showing as Active Listings. The number of active listings is down quite a bit compared to the beginning of the year when we had consistently 200+ listings on the market. That’s a really good sign that the Coralville real estate market is moving in the right direction towards a more balanced market.
177 Active Listings
16 Homes Pending or Contingent
6 Homes Sold in Iowa City in May to date – 3 Single Family Homes, 1 Condo and 2 Zero Lots.
The Absorption Rate is at 8.0 months, that’s an average of 243 days on market. That’s not great, but a huge improvement on the 11+ months we had last year and the 10+ months we had in April 2011.
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.
Data pulled from the Iowa City MLS September 13, 2011