After reporting on the continuing positive trend in the real estate market in Iowa City I thought it was about time that I took a look at the other areas I service. Today it’s Coralville’s turn. The good news is that home sales are also up in Coralville. In fact home sales in Coralville this year are more than double what they were last year in November. 22 Homes sold sold in November 2011 compared to 9 homes sold last year.
There are 17 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 153 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. These are encouraging numbers for what is typically the slowest time of the year.
153 Active Listings
17 Homes Pending or Contingent
22 Homes Sold in November 2011 – 15 Single Family Homes, 3 Condo and 4 Zero Lots.
The Absorption Rate is at 6.9 months, that’s an average of 208 days on market. That’s not as good as Iowa City, but certainly heading in the right direction.
These numbers were pulled from the Iowa City MLS November 30, 2011. It’s possible that homes closed today have not yet been entered into the MLS system so the number of homes sold may change in the next couple of days.