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