The monthly snapshot of the Coralville real estate market looks at a few of the leading indicators of the real estate market as a gauge for how the market in Coralville is trending. 13 Homes Sold so far in Coralville this month compared to 11 homes sold in January 2014. That a pretty good kick off to the year in a real estate market short on inventory!
Market Snapshot Coralville January 28, 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 as you can see, an equal number of homes sold under 30 days as over 90 days. This goes to show that not all homes sell fast, even in a seller’s market. Not that you should feel complacent about that statement. If you are sitting on a house that’s not selling in Coralville, it’s always good to reevaluate the situation every 30 days, just to make sure you’re still positioned where you need to be to get an offer.
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. 28% of the homes in Coralville listed on the MLS are under contract. That is really a good number of homes under contract at this time of the year. With inventory levels this low it goes without saying that we really need more sellers to put their homes on the market in Coralville. Right now buyers don’t have a lot of choices. 63 active listings is a very low number of active listings!
Contract to Listing Ratio Coralville January 28, 2015
Looking to buy a home in Coralville? Hiring a (good) Buyer’s Agent will be your first step to ensuring yours is a smooth and easy real estate transaction. In fact in a real estate market short on inventory a good agent is the best friend you can have. She’ll be the one watching the market for you when you’re busy taking care of your everyday routine. How else can you be sure you’re not missing out on a “hot” property? When you’re ready to work with an agent completely committed to finding you the right home to fit your lifestyle, at the right price of course, Call Denise at 319-400-0268. You really can’t put a price on piece of mind!
Data provided via the Iowa City MLS January 28,2015