It’s the end of the year and time for a closer look at what’s going on in the Iowa City real estate market. After looking at homes sold in Iowa City 2003 – 2010, (2003 is when the Iowa City MLS started recording data online). It’s now time to look at the trends in home prices in Iowa City. You definitely need both to properly analyze housing trends in Iowa City. Some of us like to look at the average price, others prefer the median price. I usually go with the average price, but for this round-up decided to do both.
The graph shows the average price and the median price of homes sold in Iowa City since 2003. Source for data is the Iowa City MLS. It may not be a complete look at the decade, but this is as far back as the Iowa City MLS goes and 7 years does give you a very good idea of how the housing market is trending in Iowa City. These home sales include all single family residential real estate listed on the Iowa City MLS. It does not include homes that were sold by owner. It’s likely there will be a couple more closings before the end of the year that will change the data marginally for 2010.
Source: Iowa City Area MLS. Revised January 3, 2011