Coralville Real Estate Market Report November 2009
It's the beginning of the month and time for my Coralville real estate market report for November 2009.
The number of homes sold in November in Coralville was up by and amazing 92%. There were 25 homes sold in Coralville in November 2009 compared to 13 homes sold in November 2008.
The average price of homes sold in November was $225,136 with an average of 98 days on market. The average price is up by 3% compared to last year when it was $218,246. Coralville is still bucking the trend we have in Iowa City and North Liberty, where the it's the lower priced homes that are selling. I'd say there's a good chance of that continuing and even improving some with the new expanded homebuyer tax credit for repeat buyers.
It will be interesting to see what the month of December brings. The Coralville Real Estate Market has been kind of flat this year - Not something we can say for November. Of course we had the first time homebuyer tax credit that was due to expire on November 30 and that probably had an impact on these numbers. As there is a pretty short deadline on the new expanded homebuyer credit we're hoping that this trend will continue through the winter months.
Buying or selling a home in Coralville, it's definitely a good time to keep an eye on the market. Subscribe to my blog below and you'll get regular real estate market updates for the area. The more you know before you buy or sell a home, the better shape you'll be in when it comes to either listing a home for sale or making an offer on a home that's currently on the market. (I do a full CMA - Current Market analysis - for both buyers and sellers).
Source: Iowa City Area MLS. December 3, 2009.
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