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Coralville IA Homes: Weekly Market Update October 25, 2010 - Homes Sold, Homes Under Contract & Active Listings

 
209 Active Listings17 Homes Under Contract2 Homes Sold week ending October 23, 2010 225E Dovetail Dr, Coralville - List price $334,200 - Sold price - $315,000 - 142 days on market3241 Kelsey Ln, Coralville - List price $285,900 - Sold price - $283,000 - 141 days on marketThis is a snapshot of the Coralville IA real estate market October 25, 2010. 2 single family homes sold last week, both in in the +$250,000 range. The absorption rate for Coralville is 8.1 months. That's the time it takes for the market to "absorb" homes. In case you're wondering how I came up with the 8.1 months, here's the calculation: 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. 311 homes sold in the last 12 months in Coralville and there are currently 209 showing as active listings. 311/209 = 1.48 - That means the inventory of homes in Coralville turned 1.48 times in the last 12 months.Now we take the 12 months and divide it by 1.48 to come up with the absorption rate.12/1.48 = 8.1 months = 243 daysThis ... more

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