Cedar Rapids Real Estate - Market Report March 2012

By
Real Estate Agent with Iowa Realty

The Cedar Rapids market's closed sales were down by 12.6% versus last year in February. Pending sales were up by 13.5% over the same month last year. Inventory is down by 101 units, or 5.6% from last month. The average sale price in February was $151,000, up $10,000 from last year. homes sold in February spend an average of 112 days on the market.

The resale segment of the market's closed sales were down by 6.1% over Feb. of 2011. Pending units were up 13.7% over the same period last year. The averagesale price of a resale listing in Feb. was $142,000 up $19,000 from last Feb. The average time on the market for resale homes was 111 days in Feb.

For new construction, closed sales were down by 44.1% from Feb. of 2011, although pending sales were up 12.1%. Inventory was up 25 units (7.5%) from the previous month. The average sales price of a new home in Feb. was $231,000, up $2,000 from last year, with price per square foot being $157, compared to $145 last Feb. The average days onthe market for a new home in February was 116 days.

Call the Wolter Team for more information on the Cedar Rapids & Marion markets. Our average days on the market is 62. We are internet marketing experts specializing in getting your house SOLD! We have helped many sellers even in this market, not just list their home, but sell it for Top Dollar.

Consider the "best husband & wife REALTOR team in Marion" if you are thinking about making a move. The interest rates are still very low, but have seen some minor increases in the week. The time is now - more homes are hitting the market every day & the buyers are out!

Posted by

Gary & Melynda Wolter CRS,CREN, MSP    

Iowa Realty, Iowa's Largest! www.GaryWolter.com (see all Cedar Rapids real estate)

Licensed in Iowa since 2001

Cedar Rapids real estate homes for sale

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Cedar Rapids Real Estate