45 Homes sold in Iowa City in April to date. There are 168 homes pending or contingent. Pending or contingent means homes that have accepted offers and may still have contingencies on them to fulfill before they close. There are currently 582 homes in Iowa City showing as active listings.
The trend is still favored towards buyers with an Absorption Rate of 9.4 months, that's an average of 283 days on market. On the up side, the number of homes sold and pending is on the rise. What we need to happen is for the number of active listings to decline. We still have a lot more homes on the market than buyers to buy them. It's when that changes we will see a transition to a more balanced market.
582 Active Listings
168 Homes Pending or Contingent
45 Homes Sold in Iowa City in April to date: 30 single family homes, 12 condos, 3 zero lots
With all the competition out there if you have a house to sell, price and condition are more important than ever. If your house is the shiny penny on the block AND it's priced right, then you're in great shape to sell your house in Iowa City this spring.
If you're buying a home on the other hand. Keep in mind that although there are a lot of homes on the market, the best ones get snapped up fast. If you see something you like, don't think about it too long or you'll find when you're ready to make your move someone else has beaten you to it!
Monday Market Snapshot April 18, 2011
Real Estate Market Report March 2011 Compared to March 2010
Real Estate Market Report February 2011 Compared to February 2010
Real Estate Market Report January 2011 Compared to January 2010
Source for data: Iowa City Area MLS Monday April 26, 2011
Originally posted @ ichomesforsale.com
