Home Sales are up 5% for the first half of the year in Coralville. 192 homes sold January – June 2016 compared to 182 homes sold January through June last year. 2016 has been a busy year for me helping buyers and sellers in Coralville and I can say without a doubt that I’m sure there would be a bigger increase in home sales if there had been more houses on the market in the hot spring selling season. My lower priced listings got offers on the same day or within days of listing. My buyers had to pounce on new listings as soon as they were listed or risk losing out, because homes were going under contract so quickly. (This applies especially to the lower price ranges and priced under $250,000).
The chart below shows home sales January through June in Coralville. June saw the biggest increase in home sales, but as I already mentioned in the last paragraph, the low number of homes on the market had an impact on home sales in spring selling season in Coralville this year.
Number of Homes Sold in Coralville
January – June 2016
Highlights of This Month’s Market Report for Coralviille
- Home Sales in Coralville are up 5% January – June 2016. 192 Homes sold in Iowa City in January – June 2016 compared to homes sold in the same time frame in 2015.
- The absorption rate is at a really low 2.6 months, that’s 80 days on market
- There are currently 81 homes showing as Active Listings on the MLS and 43 homes are currently showing as Contingent or Sale Pending on the MLS – That translates into a 35% contract to listing ratio
- Average Price for homes in Coralville is up – $254,329 Average price in 2016 compared to $230,235 in 2015
- Median Price for homes in Coralville is also up – $220,000 median price in 2016 compared to $212,500 in 2015
What does this data mean to you? Even if the real estate market isn’t as hot as it was earlier in the year, there is still plenty of buyer activity in the Coralville real estate market. Sellers who prepare their homes well and price them in line with the market will be rewarded for their efforts.
Buyers shouldn’t get complacent just because the market is not as busy now after the spring rush. The best houses sell fast and finding a good agent to work with is still the best way to make sure you don’t miss out on hot listings. Working with the right agent will also ensure you are well prepared and know everything you need to before making an offer on a home.
Helping Buyers and Sellers achieve their goals efficiently, with the minimum amount of fuss is what I’m known for. Working with the right real estate agent will go a long way to deciding what kind of home buying or home selling experience you have. Sound advice and guidance is what you can expect when you work with Denise at Cardinal Realty. Call, (or text) Denise now at 319-400-0268.
Data provided via the Iowa City MLS July 31, 2016