Following up on last week’s snapshot today I’m taking a closer look at home sales and home prices in North Liberty in January. 12 homes sold in North Liberty in January 2013 compared to 26 in January 2012. It looks like home buyers took a bit of a break in January after really strong home sales in November and December. On a positive note, there are plenty of closings in the pipeline with 40 homes under contract. Those are homes that will be closing in the next couple of months and that number is climbing!
The charts below show you exactly how the numbers break down for home sales in North Liberty in January. The first chart compares home sales to the same period last year. The second chart shows the trend for the last three months. Looking at the bigger picture. The trend in the North housing market is looking very good as we head towards spring. The dip in January is minor considering just how many homes sold in the previous months. And those are winter numbers… North Liberty flourishes in the spring time so we can expect much stronger home sales in the next few months!
The absorption rate (the time it takes for the market to “absorb” homes) fluctuates a bit depending on the style of home in North Liberty. It’s also likely to differ from neighborhood to neighborhood. For the purpose of this market report I’m looking at overall home sales in North Liberty. To find out what’s happening in your specific neighborhood we offer a Free Market Analysis.
Single family homes – 4 months / 122 days on market
Condos – 3.5 months / 104 days on market
Zero Lots – 3.2 months / 97 days on market.
Want to talk through your options and figure out whether now is a good time for you to buy a home or list your home in North Liberty? 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 February 9, 2013