North Liberty IA Real Estate Market Report November 2009
It's the beginning of the month and time for my North Liberty real estate market report for November.
The number of homes sold in North Liberty in November was up 77% with 53 homes sold in November 2009 in comparison to 30 in November 2008. Can't beat numbers like that. Of course we had the first time homebuyer tax credit that was due to expire on November 30 and that probably contributed to the large increase in year over year sales. Having said that, North Liberty has profited big time from the first time homebuyer credit anyway with strong home sales almost consistently throughout the year.
The average price of homes sold in November was $149,257 with an average of 113 days on market. The average price is down by 20% from last year - Another indicator that it is still the entry level homes that are selling and not the move-up homes.
It will be interesting to see what December brings us. The new expanded homebuyer tax credit has a shorter deadline, so we're hoping that will result in an increase in home sales through the winter months. We're also hoping some of those higher priced homes start selling as move-up or move-down buyers are motivated to buy with the $6500 tax credit in place.
Buying or selling a home in North Liberty, it's definitely a good time to keep an eye on the market. Subscribe to my blog below and you'll get regular real estate market updates for the area. The more you know before you buy or sell a home, the better shape you'll be in when it comes to either listing a home for sale or making an offer on a home that's currently on the market. (I do a full CMA - Current Market analysis - for both buyers and sellers).
Iowa City Real Estate Market Report
Coralville Real Estate Market Report
Source: Iowa City Areal MLS December 4, 2009
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