2018 is the year that I finally follow through on providing a regular look at the Tiffin real estate market. It’s the smallest of the towns where I help buyers and sellers, but growing fast!
Tiffin is part of the greater Iowa City area and is just a few miles west of Coralville. As North Liberty and Coralville grow, the boundaries get closer and closer to Tiffin, with the natural result that Tiffin also grows. Right there is the clue for you that most of the homes sold in Tiffin are either new or newer construction. This is my 4th market report this week and Tiffin is the first where home sales are up for the year. That’s an indication of just how strong the market is. Considering how close Tiffin is to its neighbors, it’s hardly surprising that buyers would look at Tiffin as an option in an Iowa City area market so low on inventory.
Homes Sold in Tiffin January – December 2017
Home Sales & Home Prices in Tiffin January – December 2017
- Home Sales are UP in Tiffin for the year. 152 Homes sold in Tiffin January – December 2017 compared to 142 homes sold in the same time frame in 2016.
- The absorption rate is 3.8 months, that’s 115 days on market. This is higher than the Iowa City area average, but still a relatively short market time.
- There are currently 48 homes showing as Active Listings on the MLS and 25 homes are currently showing as Contingent or Sale Pending – That translates into a 34% contract to listing ratio – That means there are a good number of buyers out writing contracts in Tiffin.
- Average Price for single family homes in Tiffin January – December is Down ~ Average price is $307,934 in 2017 compared to $364,616 in 2016
- Average Price for Condos in Tiffin is UP ~ Average price is $167,067 in 2017 compared to $158,441 in 2016
- Average Price for Zero Lots UP ~ Average price is $215,906 compared to $214,177 in 2016
If you’re thinking of selling your home in Tiffin 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 Tiffin and Iowa City area real estate market, we can help with that. To get started, click this link and tell us a little bit about your house or condo and what your expectations are. Alternatively you can reach me, Denise, at 319-400-0268.
Data provided via the Iowa City MLS January 4, 2018
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