Home Sales in Coralville were down slightly in November – 23 Homes sold in November 2013 compared to 26 in November 2012.
The slight decline in home sales in Coralville might well have to do with the very low inventory of homes on the market. Buyers in Coralville don’t have a whole lot of choices at the moment with just 85 homes showing as active listings on the MLS.
If the low inventory of homes on the market has a negative impact on ability of buyers to find homes to buy, it has a positive effect on the absorption rate for homes in Coralville. The absorption rate in Coralville right now is at a low 2.8 months or 85 days on market. That’s lower than it’s been in a while and combined with the strong home sales in Coralville in 2013, (up 11% for the year), overall a good indicator that the Coralville real estate market is looking good as the year comes to an end and we start looking forward to the Spring market.
Coralville IA Real Estate Summary November 2013
- Home Sales down slightly in November in Coralville – 23 homes sold in Coralville November 2013 compared 26 homes sold in 2012
- Average price for a single family home is up in Coralville – $$288,305 in November 2013 compared to $236,611 in November 2012
- Average price for a condo is down in Coralville - $184,160 in November 2013 compared to $188,091 in November 2012
- Average price for a zero lot in is up in Coralville – $148,750 November 2013 compared to $146,950 in November 2012
- The absorption rate is at a VERY low 2.8 months, that’s 85 days on market.
- There are currently 85 homes showing as Active Listings on the MLS
- 24 homes are currently showing as Contingent or Sale Pending on the MLS
- 6 homes expired in Coralville in November
Do you have a house to sell in Coralville? I’m a straight talking Realtor who knows the ins and outs of the Coralville real estate market and is happy to provide an honest assessment of your home’s value and discuss with you the best plan of action to get your home sold.
Looking to buy a home in Coralville? At Cardinal Realty we represent both buyers and sellers, (just preferably not in the same transaction). Call Denise at 319-400-0268 for personal buyer representation.
Data pulled from the Iowa City MLS December 4, 2013