How is the real estate market in North Liberty doing this spring? Last month I covered Iowa City and Coralville with my quarterly reports. This month I want to catch up on North Liberty with a look at Home Sales in North Liberty January through April 2013.
107 homes sold in North Liberty January through April 2013 compared to 120 in the same time period in 2012. Those numbers don’t reflect the real picture in the North Liberty real estate market as they don’t take into account the number of homes under contract. With lots of buyer activity in North Liberty the number of homes sale pending or contingent is high and rising daily. There are 184 homes currently either contingent or pending on the Iowa MLS. That’s compared to 143 homes contingent or pending in the March Market Update. The absorption rate gives us more proof that the North Liberty real estate market is in great shape with homes spending an average of 2.9 months / 88 days on market.
The charts show you exactly how the number of homes sold in North Liberty break down in the last four months. The first chart compares home sales to the same period in 2012. The second chart shows the trend for the last three months. Condo sales and single family home sales are almost even in North Liberty so far this year. That’s good news for condo owners! The inventory of homes in North Liberty is very low at the moment with just 135 homes listed as active on the Iowa City MLS. If you have a condo or a house to sell in North Liberty now is definitely the time to list it!
Want to know what you’re home in North Liberty is worth in today’s market? 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 North Liberty real estate market. Give me a call at 319-400-0268 or drop me an email. I promise it will be worth your while!
Data for this market report pulled from the Iowa City MLS May 14, 2013