The North Liberty real estate market is in great shape with home sales up 51% in March. 47 homes sold in March 2015 compared to 31 in March 2014. The chart below shows that looking at the bigger picture we’ve had a strong start to the year for home sales in North Liberty with home sales up almost 52% for the quarter.
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 and 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 50% of the homes listed on the MLS are under contract and showing as contingent or pending. That is the sign of a VERY busy market, especially when you consider it’s only April and the spring selling season is just starting!
Homes Sold in North Liberty January – March 2015
Home Prices in North Liberty January – March 2015
Highlights of This Month’s Market Report for North Liberty
- Home Sales are up for the first quarter almost 52%. 94 Homes sold in North Liberty in January – March 2015 compared to 62 in the same time frame in 2014.
- The absorption rate is at a low 2.7 months, that’s 81 days on market – That’s slightly lower than last month.
- There are currently 127 homes showing as Active Listings on the MLS and 123 homes are currently showing as Contingent or Sale Pending on the MLS – That translates into a 49% contract to listing ratio – That is most certainly a sign of a VERY active market!
The current market is trending heavily towards sellers in North Liberty. The inventory of homes on the market continues to be low with a lack of options for buyers.
Are you looking for the right Realtor to help you navigate the complexities of the North Liberty real estate market, all the while looking out for you and your money? 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 April 16, 2015