Home Sales in Iowa City are up in September and down slightly for the 3rd quarter. The Iowa City real estate market has been very active throughout the year and the shortfall probably has more to do with a lack of homes on the market in spring and summer than it does with a lack of interest from home buyers. (Keep in mind homes typically go under contract 30 – 60 days before they close). The chart below shows that home sales are down by 6.5%. 329 Homes Sold July through September 2014 compared to 352 homes sold in the same time frame in 2013.
Home Sales in Iowa City July – September 2014
From the table below you’ll see that home prices for single family homes and condos are up in the 3rd quarter compared to 2013. Condos are doing best of all with a good rise in both the median price and average price of condos compared to 2013.
Home Prices in Iowa City July – September 2014
Fall is not typically the busiest time of the year in the Iowa City real estate market, but with buyers unable to find what they wanted in the spring and summer, I know there are lots of buyers just waiting for the right house to come on the market. I’m working with a few buyer clients who are patiently waiting and I’m sure I’m not the only agent in town with buyers waiting in the sidelines for the right house to come on the market!
In the last few weeks I’ve seen an increase in searches from sellers looking to find information on listing a home in the fall. I don’t have a crystal ball and I don’t know where these houses are… What I do know is that there’s really only one way to find out if there’s a buyer out there for your house or condo – That’s to talk to a Realtor and find out if now is a good time to list your home in Iowa City. It will depend on a variety of circumstances and only a Realtor who’s on top of the market will be able to give you guidance on what’s going on in your neighborhood and whether it makes sense to list your home for sale in Iowa City now or wait until spring.
Are you looking for the right Realtor to help you you navigate the complexities of the Iowa City real estate market, all the while looking out for you and your money? Watching out for buyer and seller clients is my strong suit and with good communication skills and attention to detail you’ll always know that sound advice and guidance is just a phone call, text or email away. Call Denise now at 319-400-0268.