The North Liberty real estate market got off to a very good start in 2015 with home sales up in January and February. 24 homes sold in January compared to 10 in January 2014. As the bar chart below shows, home sales in February aren’t nearly as impressive, but then in a real estate market short on inventory, we can’t expect those kinds of numbers every month!
The absorption rate and the contract to listing ratio both show a very positive trend as we get poised for the spring market in North Liberty. The absorption rate shows the rate the market “absorbs” homes and the quick turnover of homes in North Liberty shows that despite the lack of inventory in some home styles and price points, not to mention the less than conducive weather, buyer activity is strong and the North Liberty real estate market is moving along in the right direction.
Homes Sold in North Liberty January & February 2015
Home Prices in North Liberty January & February 2015
Highlights of This Month’s Market Report for North Liberty
- Home Sales Up in North Liberty for the first 2 months of the year – Record breaking cold temps did not deter North Liberty buyers.
- The absorption rate is at a low 2.8 months, that’s 85 days on market – Real estate is seasonal and to see a high turnover of homes in winter is a good thing.
- There are currently 128 homes showing as Active Listings on the MLS and 83 homes are currently showing as Contingent or Sale Pending on the MLS – That translates into a 40% contract to listing ratio – A phenomenally high number of homes under contract this early in the year!
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 via the Iowa City MLS March 4, 2015