Home Sales in Coralville January - September 2014
Home Sales in Coralville are down slightly for the year and up for the last quarter, with a surge in September when almost twice as many homes sold in Coralville as last year.
The chart shows home sales in Coralville from January through September. It includes what I'm calling the "market movers" - Single Family Homes, Condos and Zero Lots. These are the styles / types of homes that make up the bulk of the residential home sales in Coralville. A quick glance will tell you right away that both single family homes and zero lots were and still are in short supply for the many buyers out and about looking for homes this year.
All the indicators show that Coralville is trending towards a sellers market. There are just 87 listings showing as active on the Iowa City MLS - That translates into about 3 months of inventory. 28% of the homes listed are under contract. That's also a good number considering this is fall and not typically the peak selling time of the year in Coralville.
Single Family Homes, Condos & Zero Lot Sales in Coralville
What does this data mean to buyers and sellers in Coralville?
The Coralville real estate market is trending towards a seller's market with 3 months of inventory of homes on the market. This is great news for sellers. Of course the same rules apply anytime sellers have their homes on the market - Well prepared homes that are priced in line with the market will sell quickest. Even in a busy market like Coralville over-priced listings won't sell. Apart from anything else, Fall buyers aren't typically in a rush to buy a home, they'll take their time in making a decision. Spring buyers are often buying on a deadline and often quicker to step up to the plate.
Buyers and Investors don't have a lot of choices of homes to buy with the low inventory of homes on the market in Coralville. The buyers I'm working with are content to wait and see what comes on the market in the coming months. If you are a seller waiting to get in the game, you can bet there will be buyers out there for your house if you decide to make a move now. If you're a buyer waiting to get into the game, you don't want to wait until you see a house you like before you look for an agent to represent you. Choosing an agent up front and working together to find the right match is a much better plan and will make the home buying process a whole lot less stressful on you.
Your Coralville Real Estate Resource
To find an up to date list of all real estate listings available in the Coralville and listed on the Iowa City Area MLS, follow the link to Iowa City Homes For Sale
Are you looking for the right Realtor to help you you navigate the complexities of the Coralville real estate market, all the while looking out for you and your money? I take watching out for buyer and seller clients very seriously and with good communication skills and attention to detail you’ll always know that sound advice and guidance is just a phone call, text or email away. Call Denise now at 319-400-0268.
Data provided by the Iowa City Area MLS October 13, 2014