It's June and home sales are doing pretty well in Iowa City this month. Checked the Iowa City MLS this morning and the number of homes sold in Iowa City for the month of June is at 37. It's only June 7 so there's plenty of month left to get those numbers up. There are 169 homes Sale Pending or Contingent. (Sale Pending or Contingent means they have accepted offers that may still have contingencies on them to fulfill before closing). There are currently 546 homes in Iowa City showing as Active Listings.
The Absorption Rate is at 9 months this week, that's an average of 275 days on market. We still have lots of inventory to get through in Iowa City. The number of homes sold and pending is definitely on the rise and June and July are the biggest months for closings in Iowa City so we'll probably see some changes in the absorption rate in the next couple of months.
546 Active Listings
169 Homes Pending or Contingent
37 Homes Sold in Iowa City in June to date - 21 Single Family Homes, 14 Condos and 2 Zero Lots.
Weekly Market Snapshot May 24, 2011
Real Estate Market Report April 2011 Compared to April 2010
Real Estate Market Report March 2011 Compared to March 2010
Real Estate Market Report February 2011 Compared to February 2010
Real Estate Market Report January 2011 Compared to January 2010
Source for data: Iowa City Area MLS June 7, 2011
Originally posted @ ichomesforsale.com
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