The real estate market in Iowa City is heating up for spring, you know that already, I wrote about that last week. How about Coralville? If you follow my market reports you'll know that they don't move in tandem. Coralville is very different to Iowa City and had a harder time during the downturn. Fortunately Coralville also has a lot going for it, not only is it a real easy commute to Iowa City, there's also easy access to the Interstate. And yes, before you start wondering where I'm going with this, home sales are up in Coralville in April too. 22 homes sold in Coralville in April so far. That's already up by 69% compared to April 2011 and the month is not over yet! Double digits home sales this early in the year in Coralville is really a great sign that buyers are on the move in a serious way.
85 homes in Coralville are marked on the MLS as pending or contingent. That's a pretty impressive number too. The number of active listings is on the decline too, with 186 listings showing as active on the Iowa City MLS.
Until those homes with accepted offers start closing of course we won't see any major changes in the absorption rate. The Absorption Rate is at 7.7 months. That's an average of 233 days on market. Check back for updates. Just like me I'm sure you want to know if this positive trend in the housing market in Coralville and Iowa City continues through the summer months. I'll be staying on top of it so you will find that info here...
186 Active Listings
85 Homes Pending or Contingent
22 homes sold in Coralville in April to date - 10 Single Family Homes, 8 Condos, 4 Zero lots
Whether you're buying or selling a home in Coralville I'd love to hear from you... When you're ready to make your move give me a call at 319-400-0268.
Data for this market update pulled from the Iowa City MLS April 23, 2012
Originally posted at Iowa City Homes for Sale