North Liberty Real Estate Market Update January 2013

It’s a bit of a surprise to see Home Sales in North Liberty down in January. 12 homes sold in North Liberty in January 2013 compared to 26 in January 2012. Although this is surprising after months of strong home sales I’m sure it’s just a glitch and the positive trend of the past months will be back again in no time.

Home sold in North Liberty 2013

Home sales in North Liberty IA – January 2013

  • Home Sales were down – 12 homes sold in North Liberty January 2013 compared to 26 in January 2012
  • Average price for a single family home in North Liberty is up – $289,459 in January 2013 compared to  $234,576 in January 2012
  • Average price for a condo in North Liberty is up- $126,175 this year compared to $121,789 in January 2012
  • The absorption rate  is at 3.7 months, that’s 111 days on market. (The link takes you to a post that shows how the absorption rate is calculated).
  • There are currently 170 homes showing as Active Listings on the MLS
  • 40 homes are currently showing as Contingent or Sale Pending on the MLS
  • 11 homes expired in North Liberty in January

As you can see from the data above, even with the drop in the number of homes sold, the real estate market in North Liberty is in very good shape. Prices look good, the time homes spend on the market is at a low 3.7 months. There are a good number of homes under contract. What we’re missing is inventory! We could do with more homes on the market in North Liberty, at the moment buyers don’t have a whole lot of choices. Of course that will change in a few weeks when the warmer weather arrives. If you’ve got a house to sell, you might want to get a head start on that and get it on the market before you have more competition. The low inventory works in your favor and something you could take advantage of.

Do you have a house to sell in North Liberty? I’m a straight talking Realtor who knows the ins and outs of the North Liberty IA 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. Contact me for a Free Market Analysis.
Data pulled from the Iowa City MLS February 6, 2012

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