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Home Sales in Iowa City: Weekly Market Update March 21, 2011
It was Spring Break last week and a quiet week when it came to home sales in Iowa City. The number of homes under contract rose to 111. That's up from 101 last week and not bad for a quiet week!
We should expect lots of action in the coming weeks. This is the busiest time of the year when it comes to the number of buyers out looking for homes. That's due to a combination of events. The first is renters whose leases are up. They want to make sure they have somewhere to go and are not homeless in a couple of months. Then there's the fact that "Match Day" was last week and nationwide Medical Students now know where they'll be doing their Residency after they graduate.The University of Iowa and The UI Hospitals are the biggest employers in the area. There's a lot of "changing spaces" going on at this time of year. For some it's the end of their 3 or 4 year stay in Iowa. For others it's just the beginning. What this means is lots of activity in an already busy spring market.While I'm on the subject of buyer activity, just lately I've noticed ... more
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