Earlier in the month I wrote a post that took a broad look at the Tiffin IA real estate market in 2012. Today I have some charts and tables to share breaking the data down into monthly home sales, home styles and home prices in 2012.
53 homes sold in Tiffin in 2012 compared to 42 in 2011. The big winners in 2012 were condos and zero lots with both up significantly compared to 2011. Single family home sales are down for the year.
As you can see from the chart, home sales were strongest in June and July. That’s typical for the Iowa City area real estate market. I think this is probably quite typical in general for regions where the weather has an influence on the home buying pattern. The weather is part of it, but what shapes the real estate market in the Iowa City area even more is the influence the University of Iowa and UI Hospitals have on the real estate market. There’s a lot of “coming and going” through the summer months and that reflects in home sales too.
So what does this data mean to you? If you’re a seller of thinking of listing your home in Tiffin, then you want to be sure your house is on the market when the most buyers are out and about looking at homes. 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 that when a home sells in July there’s a good chance it was under contract a couple of months previous to that date. What the data tells us is that to sell your home in Tiffin in summer, your best bet is to have it on the market in spring.
Do you have a house to sell in Tiffin? I’m a straight talking Realtor who knows the ins and outs of the Iowa City area 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 Tiffin 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 28, 2013