There’s no shortage of good news in this months’ market snapshot of the North Liberty real estate market. 43 Homes Sold in North Liberty this month compared to 31 homes sold in March 2014. Along with home sales in North Liberty being up, the contract to listing ratio is at a very healthy 47%. What does that mean exactly? It means that 47% of the homes currently listed in North Liberty are under contract. That’s almost half the homes listed for sale on the MLS and a great sign that LOTS of buyers are out and about writing contracts in North Liberty.
Homes Sold in North Liberty March 31, 2015
The time homes spent on the market in North Liberty in March paints an interesting picture, especially when you consider the comment in the last paragraph about the hot market. Half the homes in North Liberty sold in under 60 days and half over 60 days. It’s surprising to see 15 homes took more than 90 days to sell. It should be noted that even in a hot market some houses manage to sit on the market for a while, especially if they are listed in the winter months.
Days On Market for Homes Sold in North Liberty March 2015
Looking at home sales tells us what’s been going on in the market 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. This is where you can see just how active the market is in North Liberty. It goes without saying that with a turnover rate this high, there is a shortage of homes on the market in North Liberty, especially in the lower price ranges. Just as a point of interest there were precisely zero condos priced under $100,000 when I pulled these numbers. (That’s good news for sellers with condos to sell, but not so much for buyers short on choices).
Market Activity in “Real Time” in North Liberty March 2015
Do you have a house or condo to sell in North Liberty? As you can see from the contract to listing ratio above, there are lots of buyers are out and about making offers. If you have a house or condo to sell, now is a very good time to list it. Lots of buyer activity and a shortage of homes on the market makes for opportunities for savvy sellers.
Whether you’re buying or selling a home the agent you work with WILL make a difference. (You might even be surprised just how much!) Work with an agent committed to putting in the time and effort needed to make yours a smooth and easy move. Call Denise at 319-400-0268 for help selling your home or buying your next home in North Liberty.
Data provided via the Iowa City MLS March 31, 2015