Iowa City Real Estate Market Report January 2010
It's the beginning of the month and time for my first look at homes sold in Iowa City in January.
The number of homes sold in Iowa City in January was down compared to last year. 16 homes sold in January 2010 in comparison to 22 in January 2009. Not exactly a great kick off to the year, but way too early to call a trend.
The average price of homes sold in January was $268,265 with an average of 89 days on market. The average price is up by 31% from $205,056 in the same time period in 2009. This is a fair indication that it was not the first time home buyer that was doing the home buying in January. Perhaps the new expanded homebuyer tax credit for repeat buyers is starting to influence the market place. We'll know more in the coming months, as I said in the previous paragraph, this is too early to call a trend!
Buying or selling a home in Iowa City, 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 for data: Iowa City Area MLS February 2, 2010.
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