Weekly market update for Coralville February 15, 2010: Homes sold, under contract and active listings.
182 Active Listings
32 Under Contract
1 Homes Sold Feb 8 - Feb 12
7.3 Months of inventory on the market
The absorption rate in Coralville is just over 7 months, so we still have a buyers market. 6 months of inventory of homes on the market is considered neutral and less than 6 months trending to a sellers market.
We have a lot of buyer activity in our area in general at the moment with buyers wanting to take advantage of the homebuyer tax credit. And now that it includes repeat buyers Coralville has a good chance of having a good spring too as it does well with the "move-up" buyers.
Here's a link to a post I wrote a while back with pretty detailed info about the absorption rate.