Home Sales in Coralville in August are even with last year. 36 homes sold in Coralville in August 2016 with the same number of homes sold in August 2015. It’s been a busy year for the Coralville real estate market, but with just 84 homes currently listed on the Iowa City MLS, it’s hardly surprising that there isn’t a rise in home sales in August. Home Prices are up in Coralville, with the average price for homes up 10% in August. Looking at the bigger picture, the data points in the Coralville real estate market all show a positive trend. Now if there were just more houses on the market for sale…
Homes Sold in Coralville August 2016
Highlights of This Month’s Market Report for Coralville
- Home Sales are up 1% for the year. 287 Homes sold in Coralville in January – August 2016 compared to 284 homes sold in January – August in 2015
- The absorption rate is at a really low 2.8 months, that’s 86 days on market – In general the market continues to trend towards a lower market time with almost 64% of homes in Coralville sold in under 60 days in August.
- There are currently 84 homes showing as Active Listings on the MLS and 34 homes are currently showing as Contingent or Sale Pending on the MLS – That translates into a 29% contract to listing ratio – Unsurprisingly that’s lower than in the spring and summer months, but is a good number for the time of year.
- Average Price for homes in Coralville up 10% – $265,692 Average price in 2016 compared to $241,869 in 2015
- Median Price for homes in Coralville up 9% – $240,000 median price in 2016 compared to $220,000 in 2015
What does this data mean to you? Fall may be just around the corner, but the Coralville real estate market is not showing any signs of slowing down just yet. Coralville continues to trend towards a sellers market with opportunities for sellers, especially in the lower price ranges. If you’re a seller with a house or condo for sale it’s not too late to get the job done this year! That said, even the best homes can languish on the market if they’re not prepared and marketed correctly. Here at Cardinal Realty we’re focused on providing top of the line service from start to finish. We’re motivated and enthusiastic about what we do and are full of good ideas that ensure that we get your home sold. You’ll never have the feeling your house is “just another listing.” Don’t take my word for that though. Check out the testimonials to see what other sellers thought of their selling experience with us.
Helping Buyers and Sellers achieve their goals efficiently, with the minimum amount of fuss is what we’re known for. Working with the right real estate agent will go a long way to deciding what kind of home buying or home selling experience you have. Sound advice and guidance is what you can expect when you work with Denise at Cardinal Realty. Call, (or text) Denise now at 319-400-0268.
Data provided via the Iowa City MLS September 7, 2016