September is shaping up to be another good month for the Iowa City real estate market. Home sold in Iowa City this month to date are up to 20. There are 69 homes listed as pending or contingent. When I tell you 34 homes sold in all of September 2010 it will give you an good idea of just how strong that number is for homes under contract. There are 448 homes currently showing as Active Listings on the Iowa City MLS. The Iowa City real estate market continues to do well. Active listings going down, pending sales on the rise – That’s exactly what we want to see. This is a trend we want to continue for the housing market in Iowa City to return to a more balanced market.
448 Active Listings
69 Homes Pending or Contingent
20 Homes Sold in Iowa City in September to date – 9 Single Family Homes, 10 Condos, 1 Acreage
The Absorption Rate is at 6.9 months. That’s an average of 214 days on market. That’s down slightly compared to the 7.1 months in my last update.
Source for data: Iowa City Area MLS September 19, 2011