34 homes sold in Iowa City so far in October. The number of homes sold in all of October 2011 was 63. We’ve got another 10 days to match that number – It seems that might be a bit of a stretch, but we’ll see. April was the only month this year that saw a decline in home sales compared to 2011. I’m hoping we can keep up that good trend. 331 homes are currently listed on the Iowa City MLS showing as active and 50 homes are contingent or sale pending.
The absorption rate is at 4.4 months, that’s an average of 134 days on market. This time last year the absorption rate was at 6.4 months so that’s a good healthy drop by comparison. There is much less inventory on the market in Iowa City right now and that helps the absorption rate – The absorption rate is calculated by looking at both the number of homes sold and active listings.
331 Active Listings
50 Homes Pending or Contingent
34 homes sold in Iowa City in October to date – 26 Single Family Homes, 7 Condos, 1 Zero Lots
Check back for updates to see how the Iowa City real estate market does through the winter months.
Want to talk through your options and figure out whether now is a good time for you to buy a home or sell your home in Iowa City? 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!