North Liberty Real Estate Market Report June 2010

By
Real Estate Agent with Cardinal Realty - Locally Owned Real Estate Company

North Liberty Real Estate Market Report June 2010 Compared to June 2009

North Liberty real estate market report June 2010

109 homes sold in North Liberty in June 2010 compared to 80 homes sold in June 2009. That's an increase of 36% and not surprisingly the best in the area. What jumps out in the graph above is that condo sales have increased by almost 47% compared to last year! If you look at the numbers for Iowa City and Coralville you will see that condo sales are on the rise there too. We have a market saturated with condos so this is great to see.


Average Price Homes Sold June 2010 $166,248
Highest Price Home Sold: $535,000
Lowest Price Home Sold: $69,000


Average Price Homes Sold June 2010 $177,087
Highest Price Home Sold: $530,000
Lowest Price Home Sold: $90,000


I don't use the days on market calculated by the MLS. I use a simple method to calculate the absorption rate/days on market that doesn't manipulate the data.
According to that calculation we have 4.3 months of inventory on the market, that's 130 days on market. Much better than Iowa City and Coralville, although I would still hesitate to call it a sellers market, even though technically based on the absorption rate it is. The fact is that we have a price driven market. You probably have the opportunity to sell your home quicker in North Liberty, but only if you price it right. Market conditions in the last few years have lead to us seeing a rise in "value shoppers" and they're not going away any time soon.

If you need to sell your home in North Liberty and would like some advice on how to sell it for the best price in the shortest time
please call me anytime at 319-400-0268 or click here to send me your contact details.

For a complete list of homes for sale in North Liberty just send me an email letting me know what you're looking for and I'll send you a list of homes fitting your criteria.





Iowa City Real Estate Market Report June 2010

Iowa City Real Estate Market Report 2nd Qtr 2010

Coralville Real Estate Market Report June 2010


Coralville Real Estate Market Report 2nd Qtr 2010

 

Originally posted @ ichomesforsale.com

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Topic:
Real Estate Market Trends
Location:
Iowa Johnson County North Liberty
Groups:
Posts to Localism
Tags:
north liberty real estate market report june 2010
north liberty real estate market
homes sold north liberty
absorption rate north liberty

Comments 4 New Comment

Rainmaker
420,591
Leslie Ebersole
REALTOR - Chicagonulls Western Suburbs
Baird&Warner Fox Valley

Denise, who do you suppose condos are selling in your market? In our market we see condo sales as much lower than small single family homes that might offer a yard and a garage. Interesting. Nice charts!

July 09, 2010 02:40 AM
Rainmaker
397,397
Denise Hamlin
Real Estate & Relocation Services 319-400-0268
Cardinal Realty - Locally Owned Real Estate Company

Hi Leslie ~ I think the main reason condos are selling in the Iowa City market has to do with the fact that we are a relocation destination. The 4 year cycle with the UIOWA and UI Hospitals translates into us having a bigger demand for condos than single family homes, mainly because of the large number of single people buying homes. We have a good number of med students, residents and parents buying for their student kids.  As soon as you start talking about families, then that's an entirely different subject and you're right, they're much more interested in single family homes. We just don't have as many of those. 

I'm seeing this trend as a really positive development. For a while there this group of people weren't buying. They're back. I'd say the others will follow in time. At least that's my take. I probably don't need to tell you that if you talk to 3 different people you will get 3 different answers to that question though. A bit like those economists I see on Bloomberg TV - It seems each one of them has a different take on things too!

Denise

July 10, 2010 08:20 PM
Rainmaker
1,084,017
Jim Frimmer
Realtor & CDPE, Mission Valley specialist
HomeSmart Realty West

Our June statistics just came out today. The bust that the experts were predicting for May and June, after the tax credit expired in April, just doesn't seem to be happening.

July 13, 2010 08:37 PM
Rainmaker
397,397
Denise Hamlin
Real Estate & Relocation Services 319-400-0268
Cardinal Realty - Locally Owned Real Estate Company

Imagine that Jim. Despite Chicken Little the sky hasn't fallen in!

On a more serious note. Greenspan and Warren Buffet are both famous for quotes about how fear drives the market. When people are fearful they don't buy. It seems fear is leaving the marketplace. That's a good thing as we can see.

Denise

July 13, 2010 10:41 PM
Rainmaker
397,397

Denise Hamlin

Real Estate & Relocation Services 319-400-0268
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