North Liberty has the strongest market in the greater Iowa City area with home sales up almost 24% compared to last year. 282 homes sold in North Liberty January – June 2015 compared to 228 in the same time frame in 2014.
The absorption rate and the contract to listing ratio are in equally good shape in North Liberty. The absorption rate shows the rate the market “absorbs” homes. With 2.6 months or 79 days on market, the quick turnover of homes in North Liberty is more proof of how strong the real estate market in North Liberty is. The same applies for the contract to listing ratio. Almost 46% of the homes listed on the MLS are under contract and showing as contingent or pending. North Liberty beats out Iowa City and Coralville on all three market indicators used in my market reports – There are no signs at all of a slowdown in the North Liberty real estate market, even if it is vacation time!
Homes Sold in North Liberty January – June 2015
Highlights of This Month’s Market Report for North Liberty
- Home Sales are up almost 24% for the year
- The absorption rate is at a low 2.6 months, that’s 79 days on market – That’s slightly higher than last month.
- There are currently 128 homes showing as Active Listings on the MLS and 110 homes are currently showing as Contingent or Sale Pending on the MLS – That translates into a 46% contract to listing ratio – That’s a lot of buyers out and about writing contracts and a good sign that the market very active.
- Average Price for homes in North Liberty up – $225,190 Average price in 2015 compared to $224,290 in 2014
- Median Price for homes in North Liberty down – $200,250 median price in 2015 compared to $210,950 in 2014
Whether you’re buying or selling a home in North Liberty, working with a Realtor who keeps tabs on the market will be key to your success. If you’re a buyer, knowing when you need to jump on a listing is as important as knowing when it’s over-priced. Working with a good agent who understands the market you’ll get the advice and guidance you need to make smart decisions.
In this so-called “hot” market, sellers also benefit from the expertise of a good Realtor. Not every house or condo sells fast. Some homes take longer to sell. As an example, lower priced homes are in short supply in North Liberty right now and that’s good for sellers of lower priced homes. There are more choices in the higher price ranges and that translates into a longer market time for sellers in some neighborhoods. Knowing the market for your specific home in your specific neighborhood is key to your success. The best way to find that out is to talk to a good agent to make sure you have a strategy before listing your home in North Liberty for sale. Even in a hot market some houses languish on the market. Choosing your agent wisely will ensure yours isn’t one of them!
Ready to make your move? Sound advice and guidance are just a phone call, text or email away! Call Denise now at 319-400-0268.
Data provided via the Iowa City MLS July 3, 2015