How’s the real estate market doing in Iowa City? This is a question I know for a certainty I’ll get the moment I mention I’m a real estate agent. This is one thing buyers and sellers have in common. They’re both concerned about what happened with the housing market in the last few years. Sellers want to know whether we’re out of the woods yet and whether there’s any further danger of a loss in value of their most valued asset. Buyers have a similar, or at least related concern. They don’t want to buy a house in Iowa City that isn’t worth what they pay for it a year down the road.
Now of course if there was a bottled answer to the question of how the Iowa City real estate market is doing I’d be pretty popular and everyone would want to buy or sell a house with me. As it is, the best I can do is present the data, interpret it and tell you that all of this is only worth anything in the context of looking at your specific house in your specific neighborhood and taking into account your specific circumstances. Will this post be helpful nonetheless? I certainly hope so!
Home sales in Iowa City from January through August 28, 2012
- Number of homes sold so far this year is up 12% compared to 2011
- Single family home sales are up by 13% – 434 single family homes in 2012 compared to 384 in 2011
- Condo Sales up by 8%. – 191 condos in 2012 compared to 177 in 2011
- Detached Condo Sales up by 100% – 6 detached condos sold this year compared to 3 in 2011
- Zero Lot sales almost even – 25 zero lots sold in 2012 compared to 26 in 2011
- The average price of a home is up by 7% for the year. If you prefer to look at the median price it’s up by 6%.
This is a very broad look at the data of course. What the numbers show you is that the trend is most certainly positive. Buyers are clearly feeling more positive about the Iowa City real estate market and where it’s headed. That’s a trend that we want to see continue through the Fall and Winter months in the Iowa City real estate market! If I’ve whet your appetite for market reports, just hop on over to my other website and you’ll find detailed monthly market reports and market updates going back at least a couple of years.
Do you have a house to sell in the Iowa City area? I’m a straight talking Realtor who knows the ins and outs of the Iowa City real estate market and knows how to get your home sold. Give me a call today and let’s talk. I promise you it will be worth your while!
Data pulled from the Iowa City MLS August 28, 2012