Iowa City Homes: Weekly Market Update November 22, 2010 - Homes Sold, Homes Under Contract & Active Listings
By Denise Hamlin, Broker/Owner, Helping Happy Clients Make Smart Choices
(Cardinal Realty ~ 319-400-0268)
448 Active Listings39 Homes Under Contract10 Homes Sold November 15 - November 20, 2010 Average Price Homes Sold w/e November 20, 2010 $182,040 Highest Price Home Sold: $342,000 Lowest Price Home Sold: $ 52,500 Highest number of days on market: 328 daysLowest number of days on market: 25 days This is a snapshot of the Iowa City real estate market November 22, 2010. 6 single family homes and 3 condos and 1 acreage sold last week. The absorption rate for Iowa City is 7 months. This is the time it takes for the market to "absorb" homes. The first step in calculating the absorption rate is to find out how many homes sold in the past 12 months and how many are currently on the market. 778 homes sold in the last 12 months in Iowa City and there are currently 448 showing as active listings....