35 homes sold in North Liberty in April 2011 compared to 56 in April 2010. Bear in mind the first time homebuyer credit was around last year and that skews the comparison. There are 116 homes listed as pending or contingent. Homes showing as pending or contingent have accepted offers that still have contingencies on them to fulfill before they close. 292 homes in North Liberty are currently showing as active listings on the Iowa City MLS.
Homes spend less time on the market in North Liberty than Iowa City or Coralville with an absorption rate of 7.2 months, that's an average of 219 days on market. (6 months absorption rate would be a balanced market). I'll be watching to see how the housing market shapes up in North Liberty in the coming months so check back for updates, or better yet Subscribe to my blog for email updates.
The average price for a single family home in North Liberty in April 2011 was $197,186 compared to $232,669 in April 2010. The average price for condos in North Liberty was $118,954 in April 2011 compared to $120,850 in April 2010. The average price for a zero lot was $187,946 in April 2011, compared to $159,150 in April 2010
The median price for a single family home in North Liberty in April 2011 was $210,500 in April 2011 compared to $217,047 in April 2010. The median price for a condo in North Liberty was $124,000 in April 2011 compared to $117,500 in April 2010. The median price for a zero lot was $191,400 in April 2011 compared ton $159,900. When we look at the median price it's basically telling us that 50% of the market purchased a home above this price and 50% below this price. It's an interesting trend with the median price down compared to last year for single family homes and up for condos and zero lots.
Source for data: Iowa City Area MLS May 26, 2011
Updated May 31, 2011
North Liberty IA Real Estate Market Report March 2011
North Liberty IA Real Estate Market Report February 2011
North Liberty IA Real Estate Market Report January 2011
Originally posted @ ichomesforsale.com