205 Active Listings
10 Homes Under Contract
3 Homes Sold week ending November 6, 2010
2325 12th St, Coralville - List price $139,900 - Sold Price $137,000 - 13 days on market
1505 10th St, Coralville - List price $149,900 - Sold Price $146,900 - 94 days on market
2488 Belmont Dr, Coralville - List price $319,900 - Sold Price $310,000 - 145 days on market
This is a snapshot of the Coralville IA real estate market November 8, 2010. 1 zero lot and 2 single family homes sold last week in Coralville.
The absorption rate for Coralville is 8.0 months. That's the time it takes for the market to "absorb" homes.
In case you're wondering how I came up with the 8.0 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. 307 homes sold in the last 12 months in Coralville and there are currently 205 showing as active listings.
307/205 = 1.5 - That means the inventory of homes in Coralville turned 1.5 times in the last 12 months.
Now we take the 12 months and divide it by 1.5 to come up with the absorption rate.
12/1.5 = 8.0 months = 243 days on market
What this tells us that based on the current inventory the average time it takes a home to sell in Coralville is 8.0 months. That means we still have a buyers market, although you probably already knew that without me doing this calculation! On the up side, the absorption rate/days on market has improved quite significantly since this time last year. For most of us though, and if you're a seller I'm sure you'll agree, it's going a little slower than we would like.
Last week's weekly market update for Coralville
Coralville IA real estate market report October 2010
Coralville IA real estate market report 3rd Qtr - July - September 2010
Coralville IA real estate market report September 2010
Coralville IA real estate market report August 2010
Coralville IA real estate market report July 2010
Originally posted @ ichomesforsale.com