How is the housing market in Coralville doing? Last week I looked at home sales for 2013 in Iowa City, Coralville and North Liberty. Home Sales were up overall for the year, but there were no “aha moments.” Nothing that would get sellers to immediately feel good about listing their homes and reaching for the phone to call a Realtor. We really need sellers to do that as the inventory of homes on the market is dwindling and buyers are lacking in choices of homes to buy. I figured a look at the bigger picture might help with that and give sellers a better idea of how the real estate market in Coralville is trending over a longer period of time and how positive the outlook is for 2014.
As you can see in the chart below, the Coralville real estate market went through a rough couple of years with the low point in 2011. Since then we have a gradual improvement in home sales and home prices, especially for single family homes and zero lots – With lots of positive data coming in from a rising economy there’s every reason to believe this trend will continue in Coralville through 2014.
Home Sales & Home Prices in Coralville 2009 – 2013
Single Family Homes, Condos & Zero Lots Sold in Coralville 2009 – 2013
The chart above focuses on the most popular property types and “market movers” in Coralville – Single Family Homes, Condos and Zero Lots.
Both Single Family Homes and Zero Lots show consistently higher sales since 2011. Condos fluctuate a bit, but it’s possible that has more to do with a lack of inventory of condos on the market than it does a lack of interested buyers. The fact is that there just 7 condos listed on the Iowa City MLS under $150,000 at the time of writing this post and that is really not a lot of choices for buyers in this extremely popular price range!
Want to talk through your options and figure out whether now is a good time for you to buy a home or sell your home in Coralville? Give me a call at 319-400-0268 or drop me an email. My approach is very straightforward. I’ll help you figure out what will work for you. I have a reputation for saying what I think and communicating that in a clear fashion, (just like in my blog) – This is a trait that is much appreciated by clients past and present.
Disclaimer: These are the numbers of homes sold that were listed on the Iowa City MLS. They don’t include homes sold by owner. The data originates from the Iowa City Area MLS, January 23, 2014.