The monthly snapshot of the North Liberty real estate market “takes the temperature” of the market and shows us whether the market is hot, humming along nicely or whether there are any signs of a slowdown. Home Sales are down in North Liberty in August compared to August 2013. 41 Homes Sold so far in North Liberty this month compared to 73 in August 2013. The numbers don’t tell an accurate tale. Houses have been flying off the shelves in the spring and summer months. Buyers in North Liberty have been challenged with a lack of choices all year and it’s very likely that even though there are currently more homes on the market, that the houses and condos available are not at the price points or styles that buyers want.
The absorption rate, or days on market are up slightly compared to the spring and early summer months, but still at a low 3.4 months or 103 days on market. North Liberty is still trending strongly towards a seller’s market. The contract to listing ratio is slightly higher than Coralville and quite a bit higher than Iowa City. There are still a good number of buyers out and about writing contracts. 30% of the homes in North Liberty listed on the MLS are under contract. I’d like to say the real estate market in North Liberty is humming along nicely, but with home sales down for the month and the year that does skew things a bit. We’ll see if buyers are rewarded with more choices in the coming months.
Fall is around the corner and you might want to check back next month to find out where the North Liberty real estate market is headed. An even easier way to get market updates is to sign up and get Updates Via Email.
Are you looking for the right Realtor to help you navigate the complexities of the North Liberty real estate market, all the while looking out for you and your money? Cardinal Realty represents both buyers and sellers, (just preferably not in the same transaction). Sound advice and guidance is just a phone call, text or email away. Call Denise now at 319-400-0268.