Weekly real estate market update for Coralville June 21, 2010: Homes sold, homes under contract and current listings.
268 Active Listings
54 Homes Under Contract
17 Homes Sold June 14 - June 19, 2010
An average of 295 days on market = 9.7 Months Absorption Rate (Number of months it takes for the market to "absorb" homes) A few weeks ago we had 11 months of inventory. We're still moving in the right direction, albeit slowly. We still have a buyers market so if you're thinking of buying a home it's a great time to put those thoughts into action.
More homes than buyers in the market place + historically low interest rates = Opportunities for Buyers.
For sellers it's a different story. We have a price driven market. It's important you have the facts about your neighborhood before you put your home on the market. Pricing it right will give you the edge on the competition and mean the difference between your home getting sold or languishing on the market.
How the absorption rate is calculated
Last week's real estate market update for Coralville
Coralville real estate market report May 2010
Coralville real estate market report 1st Quarter: January - March 2010
Originally posted @ ichomesforsale.com