How are home sales in Iowa City doing with 6 months of the year behind us? 481 homes sold in Iowa City January through June 2013 compared to 448 homes sold in 2012. That’s a 7% increase compared to the first six months in 2012. This is an early look at home sales in Iowa City for the first half of the year and the numbers may change as more homes that closed at the end of June are entered into the MLS.
267 homes are currently listed as active on the Iowa City MLS – That’s a low 3.4 months worth of inventory, or 102 days on market. The market is “absorbing” homes quickly. That’s good for the market and especially good for sellers when the turnover of homes is faster. It wasn’t that long ago that listings sat on the market for a good long time before they sold. If you’ve got a house to sell in Iowa City you’re in a much better position these days. A low number of homes available in many neighborhoods, especially in lower price ranges means you have less competition when you put your house on the market. Less competition means a much better chance of a quick sale!
Iowa City Real Estate: Home Sales in Iowa City January – June 2013
- 326 Single Family Homes sold in Iowa City January – June 2013 compared to 297 homes in the same time frame last year
- 138 Condos sold in Iowa City in 2013 compared to 127 condos in 2012
- Average price for single family homes – $259,694 in 2013 compared to $240,420 in 2012
- Average price for condos – $149,452 in 2013 compared to $162,578 in 2012
- The absorption rate is at a very low 3.4 months, that’s 102 days on market. (The link takes you to a post that shows how the absorption rate is calculated).
- There are currently 267 homes showing as Active Listings on the MLS
- 191 homes are currently showing as Contingent or Sale Pending on the MLS
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? Sound advice and guidance is just a phone call, text or email away. Call Denise now at 319-400-0268.
Data provided through the Iowa City MLS, July 1, 2013