A Closer Look at Home Sales in North Liberty January - September 2014

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

Home Sales in North Liberty January - September 2014

Home Sales in North Liberty are down by 15% for the year. Buyers have had a hard time finding homes to buy in North Liberty this year with an extremely low inventory of homes on the market during the peak selling time of the year. The biggest shortfall is with condos. Condo sales in North Liberty are down 37.5% for the year. 17 of the 126 homes currently listed as active on the MLS are condos. That's an incredibly low number of condos for sale in North Liberty right now. Especially when you consider just how important the condo market is in North Liberty.

The chart shows home sales in North Liberty 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 North Liberty. A quick glance will confirm right away my previous comment about condos.

North Liberty has been  a sellers market for some time and there's no sign of that changing anytime soon. There are 126 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 North Liberty.

Single family homes condos zero lots sold North Liberty January - September 2014

What does this data mean to buyers and sellers in North Liberty?

North Liberty continues to favor sellers. That said, today's tech-savvy buyer is not about to over pay for a home, even if inventory is low. 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 North Liberty over-priced listings won't sell.

Buyers and Investors don't have a lot of choices of homes to buy with the low inventory of homes on the market in North Liberty. 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 or condo 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 or condo 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 in the long run. This is true in any market and especially true in a market where the inventory of homes is tight. Your agent will prove a valuable resource watching the market like a hawk for possible homes meeting your criteria.

Your North Liberty Real Estate Resource

To view new listings in North Liberty and for access to all real estate available in North Liberty and listed on the Iowa City Area MLS, please 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 North Liberty 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 20, 2014

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

 

Comments (1)

David Saks
(retired) - Memphis, TN

Terrific post and fine information. Have a fantastic day ahead and great week.

Oct 20, 2014 06:52 PM