North Liberty IA real estate market update December 13, 2010 - Number of homes sold, homes under contract and active listings.
192 Active Listings
26 Homes Under Contract
4 Homes Sold week ending December 11, 2010
High Price Homes Sold: $227,986
Low Price Homes Sold: $155,000
Average Price Homes Sold: $186,471
High number of days on market: 161 days
Low number of days on market: 19 days
This is a snapshot of the North Liberty IA real estate market, December 13, 2010. 4 homes sold in North Liberty last week. 2 single family homes and 2 zero lots.
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. 458 homes sold in the last 12 months in North Liberty IA and there are currently 193 showing as active listings.
465/192 = 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. What the absorption rate does is give us an idea of what's going on in the market. It's not an exact science, it just gives us something to go on.
North Liberty IA real estate market report - Number of Homes sold November: 2006 - 2010
North Liberty IA real estate market report - Average price homes sold November: 2006 - 2010
North Liberty IA real estate market report October 2010
North Liberty IA real estate market report 3rd Quarter: July - September 2010
Originally posted @ ichomesforsale.com
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