The last day of the month seems like a great day to do a market snapshot. August is turning out to be a pretty decent month for home sales in Iowa City. Even though it’s not hitting it out of the park good like July, we are seeing an increase in home sales over last year and that’s a good place to be. According to data pulled from the Iowa City MLS today the number of homes sold in Iowa City this month to date is at 66. That number will change in the next couple of days as it is the last day of the month and there are likely to be closings that haven’t been entered into the system yet. As a point of reference, last year 62 homes sold in August. There are 458 homes currently showing as Active Listings on the Iowa City MLS and 57 homes listed as pending or contingent.
458 Active Listings
57 Homes Pending or Contingent
66 Homes Sold in Iowa City in August to date – 43 Single Family Homes, 20 Condos and 3 Zero Lots.
The Absorption Rate is at 7.3 months. That’s an average of 221 days on market. The Iowa City real estate market is holding its own. Fingers crossed we can keep this progress up through the Fall and Winter months and we’ll be looking good next Spring…
Source for data: Iowa City Area MLS August 31, 2011