Homes Sold & Average Price - Coralville IA March 2011 Compared to March 2010

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

17 homes sold in Coralville in March 2011 compared to 16 in March 2010. There are 50 homes listed as pending or contingent. Pending or contingent means homes that have accepted offers and may still have contingencies on them to fulfill before they close. 299 homes in Coralville are currently showing as active listings on the Iowa City MLS.

Homes sold in Coralville IA March 2011 compared to March 2010


Spring is getting off to a great start with lots of activity in the Coralville real estate market at the moment. With all this activity it seems like a good time to look at the absorption rate to see how long homes are taking to sell in Coralville. Despite lots of activity the trend is still favored towards buyers with an absorption rate of 10.6 months, that's an average of 322 days on market. (For this post I didn't use the days on market calculated by the MLS. Those numbers tend to be skewed low. This is more accurate). We still have a lot of homes on the market in Coralville so we're going to need some time to turn over that inventory and make the transition to a more balanced market. I'll be watching to see how the housing market shapes up in Coralville in the coming months so check back for updates, or better yet Subscribe to my blog for email updates.

 

Average price homes sold Coralville IA March 2011



The average price for a single family home in Coralville in March 2011 was $283,625 compared to $273,206 in 2010. The average price for condos in Coralville was $146,129 in March 2011 compared to $158,850 in March 2010.


Source for data: Iowa City Area MLS April 14, 2011


Coralville IA Real Estate Market Report February 2011

Coralville IA Real Estate Market Report January 2011

 

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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Lisa Udy
Platinum Real Estate Group - Logan, UT
Logan Utah Realtor

I have a feeling this year will be the first step to recovery. It looks like homes sold in Coralville are up a little this year, great news! I just did a market report on my website, and we are seeing a nice uptick for the spring season, I hope it continues! Thanks Denise

Apr 18, 2011 10:56 AM #1
Rainmaker
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Denise Hamlin, Broker/Owner
Cardinal Realty ~ 319-400-0268 - Iowa City, IA
Helping Happy Clients Make Smart Choices

You're right Lisa. This is the first step to recovery. The numbers are up, we just have so many homes on the market in Coralville it's going to take us a while to catch up with ourselves. Let's hope interest rates stay low and buyers keep on doing what they're doing and keep on buying!

Apr 18, 2011 11:02 AM #2
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Denise Hamlin, Broker/Owner

Helping Happy Clients Make Smart Choices
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