Iowa City Real Estate Market Report 3rd Quarter / July - September 2010 compared to July - September 2009 165 homes sold in Iowa City in the 3rd quarter 2010 compared to 309 homes sold in the 3rd Qtr 2009 - That's a 47% decrease in home sales over last year. Clearly the expiration of the home buyer tax credit has had quite an impact on the Iowa City real estate market. You would think the low interest rate, around 4.25%, coupled with great prices on homes would counteract that, but up to now there is no sign of that.   Average Price Homes Sold July - September 2010 $183,018 Highest Price Home Sold: $510,000 Lowest Price Home Sold: $  51,000 Highest number of days on market: 354 daysLowest number of days on market:    10 days Average Price Homes Sold July - September 2009 $190,945 Highes... 10/07/2010

Iowa City real estate market report September 2010 - Number of homes sold, average price and days on market.   32 homes sold in Iowa City in September 2010 compared to 51 homes sold in September 2009. The data shows us that the Iowa City real estate market continues to struggle to find its feet again after the expiration of the home buyer tax credit. With interest rates in the low 4's and great deals to be had on homes it can only be a matter of time before the tide turns - At least that's my humble opinion! Average Price Homes Sold September 2010 $189,423 Highest Price Home Sold: $510,000 Lowest Price Home Sold: $  67,500 Highest number of days on market: 354 daysLowest Number of days on market:  10 days Average Price Homes Sold September 2009 $200,139 Highest Price Home Sold: $500,000... 10/05/2010

520 Active Listings 41 Homes Under Contract 4 Homes Sold September 13 - September 18, 2010 Average Price Homes Sold w/e Sept 18, 2010 $186,000 Highest Price Home Sold: $213,000 Lowest Price Home Sold: $159,000 Highest number of days on market: 90 days Lowest number of days on market:  28 days This is a snapshot of what's going on in the Iowa City real estate market at the moment. No big fluctuations - I don't know why the market isn't humming with interest rates in the low 4's. As I talked about in a recent post, the low interest rate should be as much as if not a bigger incentive than the tax credit. Free money is gone before you know it, a low interest rate means you save every month for the life of the loan. Plus, unlike the tax credit, the low interest rate benefits sellers too. No... 09/20/2010

Weekly snapshot of the real estate market in Iowa City IA - September 13, 2010 - Homes Sold, average price and days on market - Active Listings and homes under contract.     521 Active Listings36 Homes Under Contract7 Homes Sold September 6 - September 11, 2010 Average Price Homes Sold w/e Sept 11, 2010 $167,128 Highest Price Home Sold: $226,000 Lowest Price Home Sold: $ 75,100 Highest number of days on market: 222 daysLowest number of days on market: 52 daysThis is a snapshot of what's going on in the Iowa City real estate market at the moment. No big fluctuations. Interest rates are still incredibly low at 4.25% for a 30 year fixed rate loan. As I talked about in a recent post, the low interest rate is as much as if not a bigger incentive than the tax credit. Free money is gone before... 09/13/2010

Houses in Iowa City are priced to sell and interest rates are at an amazing 4.25% for a 30 year fixed loan. How come the market isn't humming? That's what I'm wondering. Could it be that the negative headlines we get fed on a daily basis through the Media is having an effect on the average consumer? Could it be that they're so confused that they have no idea what to think anymore? I know if I wasn't in the real estate business I would be pretty confused right now! I see that the buyers who are able to see the benefits of buying a home now rubbing their hands with glee at the deals they're making. I closed on an almost $300,000 house just a couple of weeks ago and the buyer shook his head in amazement when he realized how low the monthly payment was for so much house. It doesn't get any ... 09/09/2010

Market Snapshot of current market conditions - Iowa City IA September 6, 2010 526 Active Listings36 Homes Under Contract9 Homes Sold August 30 - September 4, 2010 Average Price Homes Sold w/e Sept 4, 2010 $176,111 Highest Price Home Sold: $247,000 Lowest Price Home Sold: $ 80,000 Highest number of days on market: 268 daysLowest number of days on market: 73 daysHome sales in Iowa City picked up a bit in August. If you check out the links to the monthly reports below you'll see what I mean. We still have the winning combination of lots more homes than buyers in the market place + historically low interest rates. In fact they're lower than ever - 4.25% for a 30 year fixed rate loan! I'm going to say it again, beats me why the market isn't a total frenzy with such lucrative times for buyers... 09/06/2010

Iowa City Real Estate Market Report August 2010 compared to August 2009   61 homes sold in Iowa City in August 2010 compared to 84 homes sold in August 2009. Not great numbers, but a significant improvement over July when the numbers were way down compared to 2009.  Average Price Homes Sold August 2010 $175,195 Highest Price Home Sold: $510,000 Lowest Price Home Sold: $  69,900 Average Price Homes Sold August 2009 $200,236 Highest Price Home Sold: $765,000 Lowest Price Home Sold: $  55,000 The source for the data used in all my market reports is from the Iowa City MLS. For the days on market/absorption rate I take numbers from the MLS and insert them into a simple Excel spread sheet to avoid manipulating the data. According to that calculation we have  7.5 months of inventory on the mar... 09/06/2010

Last week was the first full week of classes at the University of Iowa. This is a college town and as anyone will know who lives in a college town, the students bring an atmosphere that you just don't get anywhere else. On the day I took these photos I was lucky enough to be invited to lunch at the Masala, a vegetarian Indian restaurant downtown and thought since I was right there in the thick of things I'd take a walk and soak up the atmosphere. The weather was perfect and I think what struck me most is how green the UI Campus is. Iowa City shows up on green cities lists all the time. Quite clearly the University of Iowa supports and contributes to that. Check out the slide show and you'll see what I mean. 08/31/2010

    557 Active Listings41 Homes Under Contract3 Homes Sold August 23 - August 28, 2010 2 Single family homes sold Avg Price:  $216,250 1 Condo sold        Price:  $136,500   Highest number of days on market: 114 daysLowest number of days on market: 41 daysThe Iowa City real estate market is continues to be pretty slow. We still have the winning combination of lots more homes than buyers in the market place + historically low interest rates. In fact they're lower than ever - 4.25% for a 30 year fixed rate loan! As I've said before, beats me why the market isn't a total frenzy with such lucrative times for buyers. If you're still on the fence about buying a home in Iowa City, I know you've heard it before, but this is an astoundingly good time to buy a home. This particular set of condit... 08/30/2010

The Landlocked Film Festival continues today with with a day jam packed full of choices for independent film fans. This year there are more than 80 films by independent film makers being shown at five locations - The Sheraton Hotel,The Englert Theatre, Iowa City Public Library, Bijou Theatre, (in the IMU Building) and HotelVetro. The majority of the showings are free, with a low $5 admission for a few of the full length feature films. In addition to the films there's also the opportunity to visit workshops and film maker panels. You can find more info about that at the Landlocked Film Festival Website. Below is a map showing the venues where the films are being shown. When you click on the camera marker you'll find showing times for Saturday and Sunday. For those of you who prefer lists... 08/28/2010

After Sand in the City Weekend last weekend it's only fitting that we highlight the fact that we are in fact landlocked here in Iowa City... This week it's something entirely different. This week we're taking it inside as Iowa City hosts its 4th annual film festival - Landlocked Film Festival 2010. This year there are more than 80 films by independent film makers being shown at five locations - The Sheraton Hotel, The Englert Theatre, Iowa City Public Library, Bijou Theatre, (in the IMU Building) and HotelVetro. The majority of the showings are free, with a low $5 admission for a few of the full length feature films. In addition to the films there's also the opportunity to visit workshops and film maker panels. You can find more info at the Landlocked Film Festival Website. Since I'm a ... 08/27/2010

Rain did not wash all the sand sculptures away on Friday. Resourceful Iowans managed to save their exhibits and the weekend continued without further ado at this year's Sand in the City event. I headed over yesterday afternoon, enjoyed some really excellent singing with the all male capella, Intersection. (I'm Welsh, that makes me a sucker for an all male choir - it's in the genes). Right after that I took some snaps of the wonderful exhibits from the Sand Sculpting Competition. Click here if you'd like to see the full-screen version of this slide show over at Picasa. 08/23/2010

  563 Active Listings38 Homes Under Contract9 Homes Sold August 16 - August 21, 2010 5 Single family homes sold Avg Price: $164,780 4 Condos sold Avg Price: $180,488 Highest number of days on market: 140 daysLowest number of days on market: 36 days The Iowa City real estate market is continues to be pretty slow. We still have the winning combination of more homes than buyers in the market place + historically low interest rates. In fact they're lower than ever - 4.25% for a 30 year fixed rate loan! Beats me why the market isn't a total frenzy with such lucrative times for buyers. I guess we just wait and see what Fall brings. If you're still on the fence about buying a home in Iowa City, I know you've heard it before, but this is an astoundingly good time to buy a home. This particular... 08/23/2010

Sand in the City is part of the Iowa City Summer of the Arts Program. It kicked off on Friday with the sculpting competition and continues through the weekend with fun events and live music - Topped off with great food on Culinary Row. In case you're thinking of heading down there, it's not at the Ped Mall where you might expect it to be. It's at Iowa Ave, in front of the Old Capitol. (The road is closed down as far as Linn St). I was there yesterday to check out the sculpting competition. As is typical in Iowa City this year the weather managed to put a dent in proceedings. It was looking good until around 5.00pm and then the rain came in... Check out the slide show. This was just prior to events being "rained off." Today the weather is dull, but the sun is doing its best to shine thro... 08/21/2010

The Summer of the Arts Program kicks it up a notch this weekend with 3 full days of great family fun with Bank of the West's Sand In the City. The fun starts on Friday morning at 9 a.m. when ten teams begin building their sand sculptures along Iowa Ave, Iowa City for the sand sculpting competition. Judging is at 4.00pm. Fingers crossed it stays dry...Don't think for a second the fun stops there though. That's just the beginning. There's also the Kid's Sand Pit, and FUN Zone, Artist Booths and live music on the Iowa City Saab Main Stage. And to top it off you can feast on culinary delights on Culinary Row.Here's the schedule so you don't miss a thing on this big weekend in downtown Iowa City.Friday, August 209 a.m. – 4 p.m. Sand Sculpting Competition11 a.m. – 9 p.m. Culinary Row - Childr... 08/20/2010

Weekly Market Update Iowa City August 16, 2010 - Number of Homes Sold, Average Price & Days on Market     569 Active Listings34 Homes Under Contract12 Homes Sold August 9 - August 14, 2010 6 Single family homes sold Avg Price: $169,000 5 Condos sold Avg Price: $124,760 1 Zero lot sold Avg Price: $138,500 Highest number of days on market: 182 daysLowest number of days on market: 20 daysIf you need to sell your home and would like me to prepare a CMA (Current Market Analysis) please call me anytime at 319-400-0268 or click here to send me your contact details.For a complete list of homes for sale in Iowa City just send me an email letting me know what you're looking for and I'll send you a list of homes fitting your criteria.Last week's real estate market update for Iowa CityIowa City Rea... 08/16/2010

Lots of choices when it comes to new movies this week. Just the ticket considering the extremely hot and humid weather we're having in Iowa City this week. What better place to seek refuge than a nice cool air conditioned movie theater? You can check out the schedule for movies at the Coral Ridge Movie Theatre in Coralville and the Sycamore Cinema in Iowa City Three new movies to tell you about - And all aimed at different demographics.  The Expendables is chock a block with stars - Rocky Stallone, Jason Statham, Jet Li and Mickey Rourke just to name a few... It's an action thriller about a group of mercenaries who are double-crossed while on a mission in South America. This is one for the guys of course. In contrast to that we have Julia Roberts starring in the movie adaptation of the ... 08/13/2010

We have lots of homes on the market in the Iowa City area at the moment. You want to find the best one for you. How exactly do you do that without trudging through ALL the homes currently listed? I know, right now it seems like a daunting task, after all, you don't want to miss anything do you? Well, right there is where the fallacy lies. You don't need to see ALL the homes on the market in Iowa City to find the right one for you. If you make some important decisions up front you can start the elimination process before you ever get in the car and start looking at homes.So where do you start? When you're looking at homes online I'm sure you narrow the search down to price and location. It's the next step that's more difficult. What exactly are "must haves" and what are "wishes?" This is... 08/12/2010

Weekly market update Iowa City: Number of homes sold, homes under contract and active listings August 9, 2010         572 Active Listings33 Homes Under Contract23 Homes Sold August 2 - August 7, 2010 When it comes to calculating the days on market I use a simple method to calculate the absorption rate/days on market that doesn't manipulate the data. According to that calculation we have 8.0 months of inventory on the market, that's 243 days on market. MLS data puts it at less. No matter how you slice and dice it, we still have many more homes than buyers in Iowa City and until that changes it's going to take us a while to see an improvement on the absorption rate. If you need to sell your home and would like me to prepare a CMA (Current Market Analysis) please call me anytime at 319-400... 08/09/2010

This is what you see if you're hanging out at the Ped Mall in Iowa City... Browsing fine Art and reading books. Two of my favorite pastimes right there! And you can never get enough of kids having fun. An average day in a college town. You've got to love it! 08/07/2010