Weekly real estate market update Coralville IA December 13, 2010 - Number of homes sold, homes under contract and active listings.
188 Active Listings
11 Homes Under Contract
1 Home Sold week ending December 11, 2010
This is a snapshot of the Coralville IA real estate market December 13, 2010 ~ 1 Condo sold last week - 2325 Mulberry St - Sold Price: $165,000 - 133 days on market.
The absorption rate for Coralville is 7.5 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. 301 homes sold in the last 12 months in Coralville and there are currently 188 showing as active listings.
301/188 = 1.6 - That means the inventory of homes in Coralville turned 1.6 times in the last 12 months.
Now we take the 12 months and divide it by 1.6 to come up with the absorption rate.
12/1.6 = 7.5 months = 227 days on market
What the absorption rate tells us that based on the current inventory the average time it takes a home to sell in Coralville is 7.5 months. Real estate is seasonal and this is historically a quiet time for selling homes so we may not see an increase in activity until after January 1. Don't let that put you off listing your home though if you're thinking about it. There may be fewer buyers out and about, but if they are out looking now they are serious. No tire kickers out there at this time of the year! They will be buying a home, the only question is, will it be yours?
Coralville IA real estate market report - Number of homes sold - November: 2006 - 2010
Coralville IA real estate market report - Average price homes sold - November: 2006 - 2010
Coralville IA real estate market report October 2010
Coralville IA real estate market report 3rd Qtr - July - September 2010
Originally posted @ ichomesforsale.com