It’s the first day of the year and an excellent time to take a first look at home sales and home prices in Iowa City. If you’re thinking of listing a home in Iowa City this market snapshot will give you an idea on how the Iowa City real estate market is trending as we move toward the peak selling season of the year.
In a nutshell, home prices show the most impressive increase for the year in Iowa City. Home sales in Iowa City are about even in 2017 compared to 2016, at least according to data on the MLS today. (It is the first of the year and the number is likely to go up a little as agents enter more sold listings into the MLS system after the Holidays).
Homes Sold in Iowa City January – December 2017
Home Sales & Home Prices in Iowa City January – December 2017
- Home Sales are even with last year. 1103 Homes sold in Iowa City January – December 2017 compared to 1101 homes sold in the same time frame in 2016.
- The absorption rate is at a very low 1.5 months, that’s 47 days on market
- There are currently 142 homes showing as Active Listings on the MLS and 75 homes are currently showing as Contingent or Sale Pending – That translates into a 35% contract to listing ratio – That means there are a good number of buyers out writing contracts on homes in Iowa City.
- Average Price for homes in Iowa City January – December is UP ~ The average price is $295,046 in 2017 compared to $269,959 in 2016
- Median Price for homes in Iowa City is also UP ~ Median Price is $262,750 in 2017 compared to $229,950 in 2016
If you’re thinking of selling your home in Iowa City this spring, now is the time to start thinking about your strategy. Knowing what to expect of the market for your specific home in your specific neighborhood is key to your success. Detail oriented and with in depth knowledge of the Iowa City real estate market, we can help with that. Call Denise at 319-400-0268 for insights and advice on getting your home sold in Iowa City this spring!
Data provided via the Iowa City MLS January 1, 2018