North Liberty Real Estate Market Report December 2009
As we kick off a new year I have lots of data to share with you in my monthly report on what's going on in the real estate market in North Liberty Iowa. I'll start with a year over year comparison of the monthly and quarterly numbers of homes sold in North Liberty for the period ending December 31, 2009. Followed by a year over year comparison of annual home sales in North Liberty for 2009.
Homes Sold in North Liberty December 2009 Compared to December 2008
17 homes sold in North Liberty in December 2009 compared to 30 homes sold in 2008.
Median price: $259,000 compared to $181,450 in 2008.
Average days on market: 145 compared to 121 in December 2008.
Homes Sold in North Liberty in the 4th Quarter - October - December 2009
110 homes sold in North Liberty October through December 2009 compared to 89 homes sold in the 4th quarter 2008.
Median price: $141,700 compared to $164,900 in the 4th Quarter 2008.
Average days on market: 106 compared to 118 in the 4th Quarter 2008.
Homes Sold in North Liberty January 1 2009 - December 31, 2009
615 homes sold in North Liberty January through December 2009 compared to 534 homes sold in 2008.
Median Price: $146,000 compared to $157,700 in 2008.
Average days on market: 102 compared to 108 in 2008.
North Liberty is one of the fastest growing communities in Iowa and had a very good year for home sales in 2009. Well priced new construction attracted price conscious first time homebuyers. The sharp decline in December is probably an indicator of the fact that first time homebuyers purchased their homes before the November 30 deadline. For the year home sales were up by 15%.
With the extension of the homebuyer tax credit, it seems likely that first time homebuyers will be out and about again now that the holidays are over and 2010 should be another good year for North Liberty. We'll look for confirmation of that by watching the trends closely in the coming months.
Source for data: Iowa City Area MLS January 5, 2010.