Home sales in Iowa City were up by 10% in 2012. That’s not a huge increase in home sales in Iowa City, but a whole lot better than the 2% I wrote about in my market report this time last year. Last week’s post took a broad look at the Iowa City real estate market in 2012. Today I have some charts to share with you breaking the data down into monthly home sales and categories.
As you can see from the chart below, the most closings were in June and July, followed by May and August. If you calculate the time it takes for a buyer to find the right home, negotiate an offer and then look at the time it takes to process a loan, you can soon figure out when these homes went under contract. My point being, if you want to sell your house in Iowa City this summer, your best bet is to have it on the market by March or April at the latest.
The chart below shows that Single Family Home sales in Iowa City are strong and up by 15%. Condo sales are down by 3.7%. This is an improvement over 2011 when condo sales were down by 15%, but obviously there’s still plenty of room for improvement on the condo front in the Iowa City real estate market. Single family home and condo prices are up and that of course is good news!
Do you have a house to sell in Iowa City? I’m a straight talking Realtor who knows the ins and outs of the Iowa City 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.
For a complete list of homes for sale in Iowa City just send me an email letting me know what you’re looking for and I’ll send you a list of homes fitting your criteria directly through the Iowa City MLS.
Data for this market report came from the Iowa City MLS January 15, 2013
With the improving economy, reading market reports is much more fun than it used to be! The stats look good Denise, and nice graphics!
Thanks Rich, It’s much more fun writing them when it’s good news about the real estate market too!