Home Sales are up 13% in Coralville this month. 60 Homes Sold in Coralville July 2015 compared to 53 homes sold in July 2014. This may not be as big an increase as last month, but it’s still a sign of a strong real estate market in Coralville and that’s what we want!
Market Snapshot Coralville July 31, 2015
Sellers are always interested to know how long it takes for their homes in Coralville to sell and buyers like to know too as a long market time may give buyers leverage in the negotiating process. This month the market is balanced, with 50% of homes selling under 60 days and 50% longer than 60 days.
Not all homes sell fast, the chart below shows that. A good number of homes took more than 90 days to sell. Buyers should be sure to do their due diligence before making an offer on a house or condo in Coralville. A long market time can mean opportunities for buyers and they should make sure they’re working with an agent who knows the market and can give them all the information they need to make the best decisions.
Number of Homes Sold / Days on Market in Coralville
Looking at the number of homes sold is a good indication of what buyers were doing in the last couple of months. To get a feel for what’s going on in “real time” it’s a good idea to look at the contract to listing ratio. The more homes there are under contract, the more buyers there are out and about actively writing contracts. 29% of the homes in Coralville currently listed on the MLS are under contract. That’s a bit of a drop since last month and in line with both Iowa City and North Liberty. It’s clear that it’s vacation time and there aren’t as many buyers out and about as earlier in the year. This isn’t the best news for sellers who have their homes currently listed, but for buyers that’s a good thing. There’s a better chance now that homes will be on the market a little longer and not snapped up before they even get a chance to see them!
Contract to Listing Ratio Coralville July 31, 2015
Are you looking for the right Realtor to help you navigate the complexities of the Coralville real estate market, all the while looking out for you and your money? Sound advice and guidance is just a phone call, text or email away. Call Denise now at 319-400-0268.
Data provided via the Iowa City MLS July 31, 2015