Lots of positive data in this month’s market update for Iowa City, although the Jury’s out on whether we’ll see an increase in home sales for the month. 169 Homes Sold so far this month compared to 192 in July 2013. It’s possible we’ll see an increase for the month with closings often scheduled for the last day of the month, but it will be close.
The absorption rate, or days on market is also holding steady at 4.3 months and trending towards a seller’s market. The contract to listing ratio is a little low, with only 25% of the homes listed on the MLS under contract. July is vacation month so it’s too early to say the market is slowing down for the Fall.
Are you looking for the right Realtor to help you navigate the complexities of the 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.