Homes Sold in Iowa City January 2012 Compared to January 2011

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

Lately my market reports are full of positive news for housing trends in Iowa City. Home sales for January are no exception. Once again home sales are up in Iowa City. In fact home sales in Iowa City are up by a whopping 138% compared to January 2011. 31 homes sold in Iowa City January 2012 compared to 13 in 2011. And if that wasn't impressive enough. This is the highest number of homes sold in Iowa City in January of any year since 2007 when 35 homes sold!

The absorption rate has dropped to 4.8 months, that's an average of 148 days on market. (6 months absorption rate is a balanced market). 4.8 months absorption rate is technically a sellers market. Home prices don't totally reflect that yet. Since I'm on a roll with good news, there is positive data to share with you on that too. Although about half of the homes sold in Iowa City last month sold at less than 95% of list price, (indicating that buyers are still putting pressure on prices), a few homes sold in Iowa City ABOVE list price in January. That is definitely a good sign for sellers and gives us every reason to be optimistic about the spring market.

Home sales up for 7th straight month in January 2012

To view a table with information about the average price and median price of homes sold in Iowa City please visit the original post at Iowa City Homes For Sale


What's the takeaway this month? If you've got a house to sell, now would be a good time to talk to a Realtor. This market report is further indication that the housing market in Iowa City is definitely on the right track. What you need to know now is how that relates you and you're house. As you can tell from all the information in my market reports, one of my specialties is figuring out the market. I'd love the opportunity to talk with you and discuss your options. You can either call at 319-400-0268 or drop me an email with some basic information about your home and I'll provide you with a complimentary market analysis.

Home Sales in Iowa City January - December 2011

Home Sales in Iowa City by School District January - December 2011

 

Data for the market report for January collected from the Iowa City MLS February 6, 2012

 

 

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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Rainmaker
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Sharon Lee
Sharon Lee's Virtual Assistance - Jonesborough, TN
Retired and loving life

Denise-That is impressive. It is too bad all you hear about on the news is doom and gloom. I love your thoroughness with thesr stats

Feb 08, 2012 01:21 PM #1
Rainmaker
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Denise Hamlin, Broker/Owner
Cardinal Realty ~ 319-400-0268 - Iowa City, IA
Helping Happy Clients Make Smart Choices

Thanks, I'll take that as a compliment Sharon. I really try to"tell it like it is."  

You're right, it is a bit irritating that the media continues to paint such a bleak picture of the real estate market in general. They totally miss the fact that it's local. In fact the best proof of that is in my own area. Iowa City is doing great, while Coralville is struggling a bit. (I'll be posting the report for Coralville tomorrow).  

Thanks for stopping by. You are my my most loyal visitor and I really appreciate that. :)

Feb 08, 2012 02:39 PM #2
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Rainmaker
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Denise Hamlin, Broker/Owner

Helping Happy Clients Make Smart Choices
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