With house prices as low as they are and the 30 yr fixed interest rate below 4% you'd expect the real estate market to be hopping. That's not quite the case. Home sales in Iowa City remain steady this month. Homes sold in October to date are up to 20. That's a couple more than last year at this time. 43 homes sold in October 2010 so we've got a good number to beat. There are 69 homes listed as pending or contingent and 416 currently showing as active listings on the Iowa City MLS.
Active listings going down, pending sales on the rise - The trend for the housing market in Iowa City is going in the right direction, just not fast enough for most of us. Watch this space for updates. With homeownship more affordable than its ever been it can only be a matter of time until the pace of the recovery for the Iowa City real estate market picks up and we move from a slow trot to a gallup!
416 Active Listings
68 Homes Pending or Contingent
20 Homes Sold in Iowa City in October to date - 16 Single Family Homes, 2 Condos, 2 Zero Lots
The Absorption Rate is at 6.4 months. That's an average of 194 days on market. That's a nice drop from the 6.9 months in my last update.
Iowa City Real Estate Market Report August 2011 Compared to August 2010
Iowa Cityr Real Estate Market Report July 2011 Compared to July 2010
Iowa City Real Estate Market Report June 2011 Compared to June 2010
Iowa City Real Estate Market Report May 2011 Compared to May 2010
Iowa City Real Estate Market Report April 2011 Compared to April 2010
Source for data: Iowa City Area MLS October 10, 2011
Originally posted @ ichomesforsale.com
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