After looking at Market Trends in Iowa City and Coralville, today I’m taking a look at how the real estate market in North Liberty is trending for the year. The chart below shows home sales in North Liberty January through October 2013 compared to home sales in the same time frame in 2012. 531 homes sold in North Liberty January through October 2013 compared to 501 in the same time period last year. That’s an increase of 6%. Not quite as good as Iowa City and Coralville, but I wouldn’t be surprised if that had to do with the VERY low inventory in North Liberty. I worked with several buyers this year who had a hard time finding a house to buy in North Liberty.
There’s an increase of 7% in the average price of a home in North Liberty and a 5% increase in the median price of a home compared to last year. The big winners for the year are condos in North Liberty. Condo sales in North Liberty are up by 26%. Most likely this has to do with the very popular, affordable new construction condos available in North Liberty.
Home sales in North Liberty from January – October 2013
- Number of homes sold so far this year is up 6% compared to 2012
- Single family home sales are up by less than 1% – 218 single family homes in January – October 2013 compared to 215 homes sold in 2012
- Condo Sales are up by 26% – 189 condos sold January – October in 2013 compared to 150 condos sold in 2012
- Zero Lot Sales are down by 11%, – 113 zero lots sold in North Liberty January – October 2013 compared to 130 in 2012
- The average price of a single family home is up by 14% for the year / Median price it’s up by 9%.
- The average price of a condo is up by 4% for the year / The median price is down by 1%
- The average price of a zero lot is up by 4% for the year / The median price is up by 7%
Summing up the data, the trend in the North Liberty IA real estate market is looking strong on all fronts. We can ignore the drop in zero lot sales compared to last year for now. An unusually high number of zero lots sold in North Liberty last year so that’s not a fair comparison. (If you click through the link you’ll see that zero lot sales were up by 45% last year). This is the kind of market that is good for both buyers and sellers. Buyers are still looking for quality homes at reasonable price. This gives sellers an excellent opportunity to get their home seen and sold!
Do you have a house to sell in North Liberty? 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 11, 2012