Spring and early summer is always the busiest time of the year in the Iowa City area real estate market and this year is no exception. In fact this spring is the busiest I’ve seen since getting into real estate 6 years ago. In all this activity my blogging has taken a back seat and after skipping a couple of market reports last month I figured I’d make up for it this month by looking at home sales in both March and April. I’ll start with the North Liberty real estate market. Market reports for Coralville and Iowa City will follow.
April was a really good month for home sales in North Liberty with 44 homes sold in April 2012 compared to 36 homes sold in April 2011. In fact the trend in the housing market in North Liberty is looking great with home sales up in both March and April. The absorption rate/days on market is looking good too – 4.5 months / 137 days on market means that we’re working through the high inventory of homes on the market and trending towards a sellers market. Check out the zero lot sales in the chart below. They fell out of favor for a while and they’re back in style now!
Home sales in North Liberty in March were also on the rise compared to March 2011. 30 Homes sold in March 2012 compared to 22 in March 2011.
The news is good this month for both home buyers and home sellers. Home buyers continue to profit from great interest rates and low prices. Home sellers on the other hand can be optimistic that if their house is in good shape, shows well and is priced right there’s a good chance it won’t be on the market for long!
Whether you’re buying or selling a home in North Liberty I’d love to hear from you… When you’re ready to make your move give me a call at 319-400-0268. Sound advice and guidance is just a phone call or email away!
Source for data: Iowa City MLS May 7, 2012