Two months on the books for Home Sales in Coralville already and the data tells an interesting story. Home Sales were up in January and down in February. Those are just two of the market indicators and don’t provide the bigger picture. Both single family homes and condos have a short market time with an average of under 30 days on market and that tells us homes are selling fast. So fast that buyers are having trouble finding houses and condos to buy in the most popular price ranges. Add to that the fact that currently there are just 94 homes listed as active on the MLS and 59 contingent or pending, it’s easy to see there is plenty of activity in the Coralville real estate market. Everything would be great if there were just more houses and condos available for the many home buyers out looking for a home to buy right now!
Homes Sold In Coralville January + February 2018
Compared to January + February 2017
Summary of this Month’s Market Report for Coralville
- Home Sales are down for the first 2 months of the year compared to 2017. 23 Homes sold in Coralville January + February 2018compared to 28 homes sold at this time last year.
- The absorption rate is very low with homes and condos less than 30 days on market in February compared to closer to 90 days in 2017
- There are currently 94 homes showing as Active Listings on the MLS and 59 homes are currently showing as Contingent or Sale Pending – That translates into a 39% contract to listing ratio – That’s a lot of houses and condos under contract for so early in the year.
- Average Price for Single Family Homes in Coralville is down ~ Average price is $248,733 in 2018 compared to $280,355 in 2017
- Average Price for Condos in Coralville is also down ~ Average price is $152,080 in 2018 compared to $210,162 in 2017
The takeaway from the data today is that the Coralville real estate market is great for sellers and challenging for home buyers, who need to move quickly in a market where the best homes go fast. It’s a fact that homes that sell fast also sell close to asking price. If you’ve got a house or condo to sell in Coralville, now is definitely the very best time to sell it. Especially if it happens to be in the most popular price ranges.
Do you have a house or condo to sell in Coralville? Detail oriented and with in depth knowledge of the Coralville and Iowa City area real estate market, we can help get your home sold. To get started, click this link and tell us about your house. Alternatively you can call Denise at 319-400-0268.