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North Liberty IA Homes: Weekly Market Update November 15, 2010 - Homes Sold, Homes Under Contract & Active Listings

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

north liberty ia homes - weekly market update november 15, 2010

 

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

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

 

Comments (1)

Akil Walker
Bennett Realty Solutions - Bowie, MD

Denise,

 

This is a great breakdown and explaination of the market. keep up the good work.

Nov 17, 2010 01:21 PM