186 Active Listings
24 Homes Under Contract
6 Homes Sold week ending November 15, 2010
Average Price Homes Sold w/e November 13 2010 | $271,200 |
Highest Price Home Sold: | $499,900 |
Lowest Price Home Sold: | $154,900 |
Highest number of days on market: 216 days
Lowest number of days on market: 26 days
This is a snapshot of the North Liberty IA real estate market, November 15, 2010. 4 single family homes, 1 zero lot and 1 condo sold in North Liberty last week.
The absorption rate for North Liberty is 5.0 months. That's the time it takes for the market to "absorb" homes.
The first step in calculating the absorption rate is to find out how many homes sold in the past 12 months and how many are currently on the market. 442 homes sold in the last 12 months in North Liberty IA and there are currently 186 showing as active listings.
442/186 = 2.4 - That means the inventory of homes in North Liberty turned 2.4 times in the last 12 months.
Now we take the 12 months and divide it by 2.4 to come up with the absorption rate.
12/2.4 = 5 months = 153 days
What this tells us that based on the current inventory the average time it takes a home to sell in North Liberty is 5.0 months. A slight increase over last week when it was 4.8 months. North Liberty continues to be the strongest market in the area with a much better absorption rate than Coralville or Iowa City.
Last week's market update for North Liberty
North Liberty IA real estate market report October 2010
North Liberty IA real estate market report 3rd Quarter: July - September 2010
North Liberty IA real estate market report September 2010
North Liberty IA real estate market report August 2010
originally posted @ ichomesforsale.com
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