Housing trends in Iowa City: How’s the real estate market really doing? Today I’m looking at the numbers for the year to date. (January through October 2013). 892 homes sold in Iowa City January through October 2013 compared to 793 in the same time period last year. That’s an increase of 12% . There’s also an increase of 8% in the average price of a home and a 13% rise in the median price of a single family home. Perhaps the best news is that condo sales are up by 16% for the year. Condos were hit hardest in the down turn and the rise in condo sales is a sure sign that the Iowa City real estate market is on the right track.
Home sales in Iowa City from January – October 2013
- Number of homes sold so far this year is up 12% compared to 2012
- Single family home sales are up by 11.6% – 595 single family homes in 2013 compared to 533 homes sold in 2012
- Condo Sales up by 16.3%. – 249 condos sold January – October in 2013 compared to 214 in 2012
- The average price of a single family home is up by 8% for the year. Median price it’s up by 13%.
- The average price of a condo is down a tad compared to 2012 – 2.5%. The median price is down by less than 1%
Summing up the data, the Iowa City real estate market is in a very good place right now. The market is very active for the time of the year. It’s a good time for both buyers and sellers to enter the real estate market in Iowa City. Buyers are still looking for quality homes at reasonable price. This provides sellers with an excellent opportunity to get their home seen and sold!
Do you have a house to sell in Iowa City? Hiring a Realtor who’s on top of the market is your first step to a successful real estate transaction!
Data provided by the Iowa City MLS November 7, 2012