Weekly Real Estate Market Update for Coralville February 22, 2010: Homes Sold, Under Contract & Active Listings
197 Active Listings
36 Under Contract
1 Home Sold Feb 15 - Feb 20
7.9 Months of inventory on the market
With an absorption rate of 7.9 months Coralville is definitely still a buyers market. Coralville does well with move-up buyers, so once the weather warms up maybe those repeat buyers looking to take advantage of the homebuyer tax credit will change the face of the Coralville real estate market. For the moment at least Coralville is struggling a bit in comparison to North Liberty and Iowa City.
If you're not familiar with the absorption rate, 6 months of inventory of homes on the market is a buyers market. 6 months of inventory of homes is considered neutral and less than 6 months a sellers market. For more info here's a link to the first post I wrote about the absorption rate and how it's calculated.