Today I decided to take a quick look to see what's going on in the Coralville real estate market. Of course not nearly as many homes sell in Coralville as in Iowa City. (Hardly surprising since Coralville has a population of less than 20,000 compared to Iowa City's 67,000). Anyhow, with the market winding down after the summer I figured this is a good time to "take the pulse" of how the Coralville real estate market is trending. Apart from being a "stats fiend," I live here, so it's of particular interest to me. 6 homes sold in September to date compared to 5 homes sold last year by September 13. There are 16 homes Sale Pending or Contingent. (Sale Pending or Contingent means they have accepted offers that may still have contingencies on them to fulfill before closing). Currently 177 homes in Coralville are showing as Active Listings. The number of active listings is down quite a bit compared to the beginning of the year when we had consistently 200+ listings on the market. That's a really good sign that the Coralville real estate market is moving in the right direction towards a more balanced market.
177 Active Listings
16 Homes Pending or Contingent
6 Homes Sold in Iowa City in May to date - 3 Single Family Homes, 1 Condo and 2 Zero Lots.
The Absorption Rate is at 8.0 months, that's an average of 243 days on market. That's not great, but a huge improvement on the 11+ months we had last year and the 10+ months we had in April 2011. Watch this space for updates, or better yet subscribe to my blog and get updates sent directly to your inbox.
Coralville Real Estate Market Report August 2011
Coralville Real Estate Market Report July 2011
Originally posted @ ichomesforsale.com