The monthly snapshot of the Coralville real estate market looks at a few of the leading indicators of the real estate market as a gauge for how the market in Coralville is trending. 14 Homes Sold so far in Coralville this month compared to 21 homes sold in October 2013. Almost half the homes sold this month in Coralville are condos. Many are also cash sales, a good indicator that investors are busy buying real estate in Coralville. Coralville and Iowa City have a huge rental market so buying rental properties is a very good investment, as local investors know!
Homes Sold in Coralville October 2014
Sellers are always interested to know how long it takes for their homes in Coralville to sell. This month we have some interesting data to look at to show how long it took the 14 houses and condos that sold so far this month to sell. The chart below shows how many homes sold under 30 days and looking at the other end of the spectrum, how many homes in Coralville took more than 90 days to sell. if you are sitting on a house that’s not selling in Coralville, it’s always good to reevaluate the situation every 30 days, just to make sure you’re still positioned where you need to be to get an offer. So far this month the trend is to a longer time on market in Coralville with 9 of the 14 homes taking more than 60 days to sell. Check back next month to see if that truly is the trend for this fall. One month does not make a trend!
Number of Homes Sold / Days on Market in Coralville October
Looking at the number of homes sold is a good indication of what buyers were doing in the last couple of month. To get a feel for what’s going on in “real time” it’s a good idea to look at the contract to listing ratio. The more homes there are under contract, the more buyers there are out and about actively writing contracts. 25% of the homes in Coralville listed on the MLS are under contract. That’s a tad lower than the contract to listing ratio in September and higher than Iowa City at 20%. It almost seems redundant to say it, but we need more sellers to put their homes on the market in Coralville. Right now buyers don’t have a lot of choices. 91 active listings is a very low number for active listings. (To put that in perspective, in this market snapshot at the end of October 2013 there were 109 homes on the market in Coralville).
Contract to Listing Ratio Coralville October 27, 2014
Do you have a house to sell in Coralville? I’m a straight talking Realtor who knows the ins and outs of the Coralville real estate market and knows how to get your home sold. Homes don’t sell themselves – A good agent will be what makes the difference between a home selling quickly and it languishing on the market.
Looking to buy a home in Coralville? At Cardinal Realty we represent both buyers and sellers, (just preferably not in the same transaction). Whether you’re buying or selling a home the agent you work with WILL make a difference. (You might even be surprised just how much!) Work with an agent committed to putting in the time and effort needed to make yours a smooth and easy move.
Call Denise at 319-400-0268 for help selling your home or buying your next home in Coralville.
Data provided via the Iowa City MLS October 27, 2014