North Liberty continues to be one of the fastest growing towns in Iowa and yet Home Sales in 2013 didn’t really reflect that with a 4% increase in home sales compared to 2012. All the more reason to look at more data to see exactly where the North Liberty real estate market is at now compared to before the downturn. The inventory of homes on the market in North Liberty is dwindling and buyers are lacking in choices of homes to buy – It’s important that sellers know that the market has made great strides in the last couple of years and now is a great time to get busy listing homes again!
The chart below shows that the North Liberty real estate market looks a bit different to Iowa City and Coralville over the course of the last five years. Although the total number of homes sold dropped, single family home sales continued to rise and it was condos that took the big hit. Home prices didn’t miss a beat and rose continually year over year.
Home Sales & Home Prices in North Liberty 2009 – 2013
Single Family Homes, Condos & Zero Lots Sold in North Liberty 2009 – 2013
The chart above looks at the most popular property types and “market movers” in North Liberty – Single Family Homes, Condos and Zero Lots.
New construction homes drive the market in North Liberty and single family home sales have grown steadily over the last five years. Condo sales have gradually increased in the last couple of years after a big dip in 2010 and 2011. That in itself is a great sign for 2014 as condos are big market movers and very popular with both younger buyers and older buyers looking for low maintenance living options.
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 North Liberty? 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 28, 2014.