Year End Market Report for 2014 and Trends for 2015
What’s Selling in Iowa City? That’s the question. Based on past and current performance, what can we expect from the Iowa City real estate market in 2015? Last week I looked at the Iowa City real estate market as a whole. Today I’m breaking it down to styles of homes sold in Iowa City in 2014. What becomes apparent right away is that there were no big surprises last year. No big ups or downs. A good, stable market.
The chart below doesn’t really need any explanation. Single Family Homes and Condos are the biggest sellers in Iowa City and both did well in 2014 without seeing an increase in sales. I’m sure the lack of inventory of homes on the market in Iowa City in the peak selling time of the year is the biggest reason for that. We probably would have seen more upward movement if there were more homes on the market! On the up side, condo prices are up. That’s a very big deal, since condo prices took a big hit during the downturn. Clearly condos are back in style and that is very good news for condo owners and the Iowa City real estate market in general. No savvy buyer wants to buy a home if they think there’s going to be a problem with resale later!
The market has been strong all through the Fall and Winter months in Iowa City so at this point it seems self evident that will continue through spring 2015. You can always check back for updates. Real estate market updates are a regular feature on the site!
Chart showing breakdown of Home Sales in Iowa City 2014
Average & Median Price: Homes Sold in Iowa City 2014
Looking to buy a home in Iowa City? Hiring a (good) Buyer’s Agent will be your first step to ensuring yours is a smooth and easy real estate transaction. In fact in a real estate market short on inventory a good agent is the best friend you can have. She’ll be the one watching the market for you when you’re busy taking care of your everyday routine. How else can you be sure you’re not missing out on a “hot” property? When you’re ready to work with an agent completely committed to finding you the right home to fit your lifestyle, at the right price of course, Call Denise at 319-400-0268. You really can’t put a price on piece of mind!
Got a house, condo or zero lot to sell in Iowa City? Give Denise a call at 319-400-0268 for personal, effective real estate services with a hi-tech advantage. A successful real estate transaction has nothing to do with chance or luck – Every SOLD Sign starts with a plan! Hire an agent who is completely committed to the success of your real estate transaction. Call today to get started on getting that SOLD Sign in your yard!
Data for this market report pulled from the Iowa City MLS January 20, 2015