At the beginning of the month I wrote a post with a general overview of the Iowa City real estate market for the year. Today I have a graph and some numbers to share with you giving you more insights on the real estate market in Iowa City. 743 homes sold in the first 9 months of the year. That’s a 16% increase compared to the same time frame in 2011. The average and median price of homes sold is also up. The average price is up by 5%. The median price by 4%.
The graph shows the median price of homes sold January through September 2012 compared to 2011. The table below shows both the average and median prices. It didn’t make sense to put more trending lines on the graph so I skipped putting the average price on the graph. That would only have confused things. As it is, you can see that we have no major dips or peaks in the Iowa City real estate market. Home prices were lower in Iowa City at the beginning of the year and improved April through August with another dip in September.
All in all the real estate market in Iowa City is stabilizing and sellers can start feeling more optimistic about putting their homes on the market. Of course this is still a bit too general if you’re seriously thinking of selling a home in Iowa City. When it comes to selling a home you really need to know what’s going on in your particular neighborhood. What it does give you is a general feel for how the housing market in Iowa City is trending and that’s always a good place to start.
Source for data: Iowa City MLS October 22, 2012