Iowa City Real Estate Market Report August 2012

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

My monthly market reports started out with North Liberty and Coralville this month. Since I was quoted in the Daily Iowan, the UI Newspaper with my opinions on the Iowa City real estate market I figured I'd better hurry up and get my monthly market report for Iowa City out on the world wide web!

The good news is that Home Sales in Iowa City are up by 30% in August 2012 compared to 2011 . 91 homes sold in Iowa City last month compared to 70 in August 2011. This is the most number of homes sold in Iowa City in August since the market meltdown in 2008.

And if you need even more proof on how well the Iowa City real estate market is doing,  the absorption rate  is down at at 4.8 months, that's an average of 144 days on market. To put that in some kind of perspective, this time last year the absorption rate was at 7.1 months in Iowa City.

Homes sold Iowa City August 2012

Original Post at Iowa City Homes for Sale - View additional information on the average price and median price of homes sold in Iowa City August 2012

Looking at the bigger picture, the trend in the Iowa City real estate market is looking good. Home Sales in Iowa City from January through August are up by 15%. The median price and average price are both up by 7%.  Fall is just around the corner, check back for updates to see if this trend in the Iowa City housing market continues through the winter months. Or better yet Subscribe to My Blog and have market updates sent directly to your email.

Want to talk through your options and figure out whether now is a good time for you to buy a home or list your home in Iowa City?  Give me a call at 319-400-0268 or drop me an email. My approach is very straightforward. I'll help you figure out a strategy on how to get from A to B with the minimum amount of fuss. 

Data for this market report pulled from the Iowa City MLS September 7, 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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Elite Home Sales Team
Elite Home Sales Team OC - Corona del Mar, CA
A Tenacious and Skilled Real Estate Team

I see the market is improving there as well.  Good to hear.

Sep 13, 2012 02:10 AM #1
Rainmaker
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Sharon Lee
Sharon Lee's Virtual Assistance - Jonesborough, TN
Retired and loving life

Denise-It is wonderful news that the number of homes sold has increased since last year. Here is hoping that continues.

Sep 13, 2012 03:44 AM #2
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Denise Hamlin, Broker/Owner

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