Coralville IA Homes: Weekly Market Update November 15, 2010 - Homes Sold, Homes Under Contract & Active Listings

By
Real Estate Broker/Owner with Cardinal Realty ~ 319-400-0268

coralville ia homes - weekly market update november 15, 2010

 

202 Active Listings
7 Homes Under Contract
1 Home Sold week ending November 13, 2010


 ~1785 Brown Deer Ridge - List Price $429,000 - Sold Price $400,000 - 104 days on market ~



This is a snapshot of the Coralville IA real estate market November 15, 2010. 1 single family home 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.

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. 308 homes sold in the last 12 months in Coralville and there are currently 205 showing as active listings.

308/202 = 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 could go a whole lot faster.



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

Posted by

Denise Hamlin, Realtor®

Broker/Owner

CARDINAL Realty, Coralville IA 

Licensed to Sell Real Estate in the State of Iowa

 

Helping Happy Clients Make Smart Choices 

Iowa City Area Real Estate Services

 

Please remember that opinions expressed in my blog are just that - opinions - not fact
For legal or accounting advice please consult with a professional
Although the information provided is deemed reliable, it's not guaranteed

 

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