Homes Sold in Coralville IA May 2011 Compared to May 2010

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

24 homes sold in Coralville in May 2011 compared to 40 in May 2010. After starting off the year well the last couple of months have shown a decline in home sales in Coralville. This is pretty much in line with economic sentiment as a whole, but is somewhat surprising to me as generally the real estate market in the greater Iowa City area is considered to be more stable. Low unemployment is one of the main factors that plays into that. Be that as it may, buyers are not out in great numbers this Spring in Coralville.  We'll just have to wait and see how things pan out in the next couple of months.  June and July are the busiest months for closings in Coralville and contingent and pending sales are on the rise. By the end of the summer we'll have a much clearer picture of how the housing market in Coralville is really doing.

Whether you're buying or selling a home in Coralville, knowing what's going on in the market is critical information to have. It will help you decide how best to position yourself if you're selling a home and help you decide on where you need to be if you're making an offer on a home. Stay on top of what's going on in the Coralville real estate market and check back often for updates. Or better yet, Subscribe to my blog for email updates.

Homes Sold Coralville May 2011 compared to 2010



The average price for a single family home in Coralville in May 2011 was $227,908 compared to $261,553 in May 2010. The average price for a condo in Coralville was $127,000 in May 2011 compared to $141,040 in May 2010.

Average Price Homes Sold Coralville May 2011 compared to May 2010


The median price for a single family home in Coralville in May 2011 was $200,000 in May 2011 compared to $215,000 in May 2010. The median price for a condo in Coralville was $115,500 in May 2011 compared to $90,700 in May 2010.

Median Price Homes Sold Coralville May 2011


As far as the days on market are concerned, according to data from the Iowa City Area MLS, homes in Coralville were on the market longer in May 2011 compared to May 2010. Single family homes spent an average of 116 days on market in May 2011 compared to 99 days in May 2010. Data for days on market is highly manipulated due to expired listings and re-listed properties so I'd suggest you talk to a Realtor about the actual absorption rate (aka days on market). MLS calculations are usually skewed low. Depending on the neighborhood you live in the average days on market could be higher. This post about absorption rate explains a little more about what I mean with that.

Source for data: Iowa City Area MLS June 21, 2011





Coralville IA Real Estate Market Report April 2011

Coralville IA Real Estate Market Report March 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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