Home Sales in Coralville in the first quarter are slightly lower than last year in the same time frame. That creates a misleading picture as the real estate market in Coralville is doing very well, it just hasn’t translated into closed transactions yet. 38 homes sold in Coralville January through March 2013 compared to 41 in the same time period in 2012. What you don’t see in those numbers are the large number of homes with accepted offers. There are 100 homes listed as either contingent or pending on the Iowa MLS. That’s up from last year as you can see in this market update from April 2012
The charts show you exactly how the number of homes sold in Coralville break down in the 1st quarter. The first chart compares home sales in Coralville to the same period last year. The second chart shows the trend for the last three months and includes the style of homes sold. Single family home sales are the strongest in Coralville, that’s not unusual. The good news is that condo sales are also on the rise. (25% of the homes under contract are condos, 25% zero lots and 50% single family homes).
The absorption rate for single family homes in Coralville is 5.6 months, that’s an average of 170 days on market. For condos it’s 6.3 months, 192 days on market. Around 6 months is termed a balanced market – A market that is good for both buyers and sellers.
Are you ready to buy a house in Coralville? Who you choose to work with does matter – A good buyer’s agent will make sure your transaction is a smooth one. Give me a call at 319-400-0268 for personal buyer representation.
Do you have a house to sell in the Coralville? Now is definitely the time to list it! We can help you get it sold with a top of the line Marketing Plan using the power of the Internet. As the first step I’m sure you’ll want to know what your home is worth. A “common sense” approach to real estate means that when you call for a FREE Market Analysis you’ll get an honest and realistic assessment of your home’s value. It will be based on sound market data and include an analysis of current market conditions in the Coralville real estate market. Give me a call at 319-400-0268 or drop me an email. Sound advice and guidance are just a phone call or email away!
Data for this market report pulled from the Iowa City MLS April 24, 2013