The Spring market is going well in North Liberty with home sales up again in April. 38 homes sold in April 2015 compared to 32 in April 2014. Although there is a shortage of inventory of homes on the market in North Liberty the shortage is not as extreme as last year with home sales up in the first 4 months of 2015 by 40%.
The absorption rate and the contract to listing ratio are in equally good shape in North Liberty. The absorption rate shows the rate the market “absorbs” homes. With 2.9 months or 83 days on market, the quick turnover of homes in North Liberty is more proof of how strong the real estate market in North Liberty is. The same applies for the contract to listing ratio. Almost 50% of the homes listed on the MLS are under contract and showing as contingent or pending. That is the sign of a VERY busy market.
Homes Sold in North Liberty April 2015
Highlights of This Month’s Market Report for North Liberty
- Home Sales are up January – April by 40%. 132 Homes sold in North Liberty in January – April 2015 compared to 94 in the same time frame in 2014.
- The absorption rate is at a low 2.9 months, that’s 83 days on market – That’s slightly higher than last month.
- There are currently 136 homes showing as Active Listings on the MLS and 129 homes are currently showing as Contingent or Sale Pending on the MLS – That translates into a 49% contract to listing ratio – That’s a lot of buyers out and about writing contracts and most certainly a sign of a VERY active market!
The current market is trending heavily towards sellers in North Liberty. The inventory of homes on the market continues to be low with a lack of options for buyers. There are good opportunities for sellers who prepare and price their homes in line with the market. A (good) real estate agent will be an asset and will help with that by providing good advice on preparing and pricing your home based on homes similar to yours in neighborhoods like yours. Every SOLD sign starts with a plan. And the planning starts before you put your house or condo on the market!
Are you looking for the right Realtor to help you navigate the complexities of the North Liberty real estate market, all the while looking out for you and your money? Sound advice and guidance are just a phone call, text or email away! Call Denise now at 319-400-0268.
Data provided via the Iowa City MLS May 12, 2015