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North Liberty Real Estate Market Update September 2009 - 3rd Quarter

By
Real Estate Broker/Owner with Cardinal Realty ~ 319-400-0268

North Liberty Iowa Real Estate Market Report September 2009 including home sales in the  3rd Quarter

This month I thought I'd change the format of my monthly real estate market updates and do one for each of my areas. This one is for North Liberty. Here are the links to the market statistics for Iowa City and Coralville.
Ragbrai 2009 North Liberty IA

I'll start with a year to year comparison for the month of September. 44 homes sold in the North Liberty area in September 2009 in comparison to 33 in September 2008. Because of the cyclical nature of real estate it's always better to compare to the previous year, rather than to the previous month.

The median price was $133,700 compared to $159,000 in September 2008.

The average days on market were 95 in 2009 compared to 105 days on market in September 2008.


Now since September marked the end of the 3rd quarter it makes sense to look at the numbers from July - September 2009 compared to the same time frame in 2008 too.


There were 229 homes sold in North Liberty in the July - September quarter in 2009 in comparison to 215 in the same time frame in 2008. That's an increase of 7%.

The median price for a home in North Liberty in this same time frame is down by 2% to $144,900, compared to $147,250 in 2008.

The average days on market were 88 in 2009 compared to 101 days on market in September 2008.


These numbers speak for themselves. Home sales and prices are doing well - The lower prices may be a sign that it's the first time buyer that's driving the market in North Liberty.

North Liberty
continues its run as a hot tip for anyone relocating to the Iowa City area. Its got a lot going for it when it comes to the winning combination of location and price. With easy access to I-80 and 15 minutes to either Cedar Rapids or Iowa City it's a great central location.

Many folks get sticker shock when they see Iowa City home prices as they expect to pay less in the Midwest. North Liberty offers more reasonably priced homes, especially in the much sought after area of new construction. As a rural area it also qualifies for USDA Rural Development Home Loans, a huge plus in a market where buyers otherwise don't have too many options when it comes to 100% financing.



Iowa City is a relocation destination and we have many excellent options for folks relocating to the area in Coralville, Iowa City, North Liberty, Tiffin and surrounding areas in Johnson County. If you'd like some help figuring out the best location with the best options for you, please contact me either by email or at 319-400-0268.

 

Photo Courtesy of the City of North Liberty @ Flickr

Source for data provided: Iowa City Area MLS

Posted by

Denise Hamlin, Realtor®

Broker/Owner

CARDINAL Realty, Coralville IA 

Licensed to Sell Real Estate in the State of Iowa

 

Helping Happy Clients Make Smart Choices 

Iowa City Area Real Estate Services

 

Please remember that opinions expressed in my blog are just that - opinions - not fact
For legal or accounting advice please consult with a professional
Although the information provided is deemed reliable, it's not guaranteed

 

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