Five days into the year and time to take a look at how the Iowa City real estate market did in 2012. I’ll start with Iowa City and follow with Coralville, North Liberty and Tiffin in the next few days. 884 homes sold in Iowa City January through December 2012 compared to 803 in the same time frame in 2011. That’s a 10% increase. That’s not a huge increase in home sales in Iowa City, but MUCH better than the 2% increase in year over year home sales I wrote about in my Market Report this time last year.
Home sales in Iowa City – January 1 through December 31, 2012
- Number of homes sold in Iowa City up 10% in 2012 compared to 2011 – 884 homes sold January – December 2012 compared to 803 in 2011
- Single family home sales are up by 15% – 597 single family homes in 2012 compared to 517 in 2011
- Condo Sales are down by 3.7% – 234 condos in 2012 compared to 243 in 2011
- Zero Lot sales are up by 8.8% – 37 zero lots sold in 2012 compared to 34 in 2011
- The average price of a home in Iowa City is up by 5% for the year. If you prefer to look at the median price it’s up by 3%.
This is a very broad look at the data. In the coming weeks I’ll be taking a much more in depth look at how the Iowa City real estate market did in 2012 with charts and tables that show more on home prices. As you can see from this quick snapshot, the trend in the Iowa City housing market is good, with one weak spot and that’s in condo sales. Spring and early summer is the peak time of the year for condo sales in the Iowa City area. Let’s hope for better numbers this spring!
Check back for updates to see how the Iowa City real estate market continues to do through 2013.
Are you looking for the right Realtor to help you navigate the complexities of the real estate market, all the while looking out for you and your money? Sound advice and guidance is just a phone call, text or email away. Call Denise now at 319-400-0268.
Data for this market report pulled from the Iowa City MLS January 5, 2013