Market Reports for Iowa City, Coralville, North Liberty IA, January - December 2013
As we head towards spring and the top months of the year for listing homes it will be very important to sellers to know what's going on in the market place. Real estate is local. Sellers need to know what buyers are buying. These market reports will give you a good starting point to see where the real estate market is at in your town. Iowa City, Coralville and North Liberty are all very close together with lots of shared boundaries. That doesn't mean it's possible to put them in one big melting pot when it comes to real estate market trends. Real estate is indeed local and the more local you look at the numbers, the better idea you will get of what you can expect when you put your house on the market.
If you have a home to sell in the Iowa City area this spring, after you have taken a look at these market reports you will need to take a closer look at the data to find out what's going on in the neighborhoods closest to where your house is located. That's where the trusted CMA, Current Market Analysis, comes in handy. Once you know what's going on in your neighborhood you can work on a strategy to get your home sold. Selling a home starts with a plan and the first thing to do is get informed on the market!
Iowa City Real Estate Market
Home Sales up 12% in Iowa City in 2013. 987 homes sold in Iowa City January through December 2013 compared to 884 in the same time frame in 2012. The best news is that condo sales in Iowa City are up by 15%. Condo sales took the biggest hit during the down turn and the fact that they are on the rise again shows that buyer confidence is back. I think that right there bodes well for a positive outlook for housing trends in Iowa City for 2014!
Read the complete review of home sales in Iowa City in 2013 on the Cardinal Realty website: Home Sales & Home Prices in Iowa City January - December 2013
Coralville IA Real Estate Market
Home sales were up 11% in Coralville in 2013. 370 homes sold in Coralville in 2013 compared to 332 homes sold in 2012. Single family homes are the big winners in Coralville with single family home sales up 21%. Condo sales are down 6% compared to 2012. The lack of inventory of homes on the market may be a contributing factor to the lower condo sales in Coralville, we won't know for sure if that's the case until we have more data to look back on later in the summer.
Read the complete review of home sales in Coralville in 2013: Home Sales & Home Prices in Coralville IA January - December 2013
North Liberty IA Real Estate Market
Home Sales were up just 4% in North Liberty in 2013. This was a bit of a surprise as North Liberty is one of the fastest growing towns in Iowa and definitely had an easier time going through the downturn than either Coralville or Iowa City. 597 homes sold in North Liberty in 2013 compared to 570 homes sold in 2012. Condo sales in North Liberty are up by 29% and single family home sales down 1%. That's what we call conflicting data! Since North Liberty was where I helped more buyers and sellers than anywhere else last year I can say with conviction that I'm sure part of the reason for the lower number of single family homes sold was the lack of homes on the market. Buyers in the most popular price ranges, ($180,000 - $250,000), didn't have a lot of homes to choose from.
Read the complete review of home sales in North Liberty IA: Homes Sold in North Liberty IA January - December 2013
Do you have a house to sell in the Iowa City area? I'm a straight talking Realtor who knows the ins and outs of the Iowa City area real estate market and is happy to provide an honest assessment of your home's value and discuss with you the best plan of action to get your home sold. Contact me for a Free Market Analysis.