The real estate market in Iowa City picked up in July and August after a volatile first half of the year . Today I pulled data from the Iowa City MLS to see if September is following in that trend. The number of homes sold in Iowa City this month to date is at 11. That's compared to 15 homes that sold in the first 12 days of September last year. There are 57 homes listed as pending or contingent. That's a good strong number and indicates we have quite a few closings to look forward to. If only half of them close this month we'll be ahead of the game for September. (34 homes sold in September 2010). 452 Active Listings 57 Homes Pending or Contingent 11 Homes Sold in Iowa City in August to date - 6 Single Family Homes, 5 Condos Not only are home sales on the rise. The number of homes on t... 09/12/2011

I figured I'd kick it up a notch today and throw more data at you about our improving real estate market in Iowa City. I'm pretty sure if I was in the middle of deciding whether or not to jump into this market, either as a buyer or a seller, I'd want a bit more than ambiguous statements about the "market picking up" before I made up my mind. What does that mean exactly? Well, I know of no better way to illustrate what that means than share with you a few graphs that illustrate what exactly has been going on in the Iowa City real estate market this year to date. The first graph is not very clear. The blue line shows home sales in Iowa City in 2011. The pink line is for 2010 This morning I collected data from the Iowa City MLS for home sales in Iowa City from January to August 2011 and co... 09/07/2011

We had another good month for home sales in Iowa City in August. According to data pulled from the Iowa City Area MLS this morning 69 homes sold in Iowa City in August 2011 compared to 62 homes sold in August 2010.  The ways things are shaping up it looks like home sales in Iowa City in the 3rd quarter may well exceed expectations. I have to admit, it's much more fun putting together these real estate market reports when the data is positive. Keep an eye open from my weekly reports in September. The way things are progressing I'm expecting to share more positive information on housing trends in the Iowa City real estate market in the coming weeks. The Iowa City real estate market is picking up, although of course we still have a lot of inventory to get through. We still have a buyer's m... 09/05/2011

After the rolling hills of the Brown Deer Neighborhood yesterday, I'm heading over to the east side of Iowa City with my photos today and a much different landscape. The Wellington neighborhood is known for its beautiful pond views and wonderfully maintained green areas. The Wellington neighborhood is set in a park like setting in the Village Green Subdivision and is about as far east as you can go in Iowa City at the moment, (although that will change as they continue to build in the area). To put some perspective on the distance, Iowa City is not that big and from the Wellington Neighborhood it's about 10 - 15 minutes to downtown Iowa City. In fact, it's an easy commute for all the amenities downtown Iowa City has to offer. What it isn't close to is the Interstate. That's something to... 09/04/2011

As a big tech fan who just loves data I'm totally impressed by the new flood inundation map available now on the National Weather Service website. In case you missed it, the new flood inundation map was unveiled yesterday. It's going to be a huge help for Iowa City and Coralville residents the next time we get inundated with big rains. Not to mention it helps me a lot as a real estate agent to have a tool to share with clients relocating to Iowa City who are always appreciative to have tools to help them understand the area better. This interactive map makes it easier to predict the impact of heavy rain and how high the river needs to crest during the various stages of flooding. The graphic shows how the area would be affected if the river crested at 34ft. As a point of reference, In 20... 09/02/2011

Home sales in Iowa City hit it right out of the park in July. 144 homes sold in Iowa City in July 2011 compared to 73 homes sold in July 2010. That's a 97% increase over last year!  Phenomenal data on the heels of the pretty grim economic news of the last couple of days with the US losing its AAA credit rating and Freddie and Fannie being downgraded too. I'm hoping that doesn't rattle these happy home buyers and I can continue bringing you good news about the Iowa City real estate market throughout the second half of the year.  The average price for a single family home in July 2011 was $230,797 compared to $211,017 in July 2010.The average price for condos in Iowa City was $131,254 in July 2011 compared to $144.333 in July 2010.  The median price for a single family home in July 2011 w... 08/18/2011

Who says we've got a slow market? Not me. I haven't even had time to update my blog this week. I have so many good pictures to post of this year's great 4th of July Parade in Coralville too! My favorite float was the one for the Iowa City Aerohawks so I'm taking the time to post that today - Just in time for the big RC Airshow coming up this weekend. You don't want to miss that! Iowa City Aerohawks Radio Control Air Show, Sunday July 10, 2011 - 1.00pm - 4.30pm - Hebl Ave, Iowa City (Plenty of free parking available) Directions: West on Melrose Ave, 2 miles past West High School. Left towards the landfill. Follow the signs....   Family friendly fun entertainment doesn't get any better than this! The Iowa City Aerohawks are holding their Annual RC Air Show on Sunday July 10. Events includ... 07/08/2011

One of the highlights of the summer in downtown Iowa City this 4th of July weekend is upon us - Iowa City Jazz Festival. The Main Stage is in front of the Old Capitol and performances start there at 4.30 pm Friday. The final performance will be at 8.00 pm on Sunday and right after that at 9.45 pm you can make your way to Hubbard Park for the 4th of July Fireworks that will be launched from Hubbard Park. (Yes, the 4th of July Firework Display is scheduled for July 3 - Make sure you don't miss it!)While you're listening to all the good music you're going to need sustenance. Vendors on Culinary Row will provide cuisine from around the world. They'll be set up along Iowa Ave. John's JazzFest Beer Tent offers a great view of the Main Stage. And to round it off and make it a truly family affa... 07/01/2011

It's almost the end of the month and it doesn't look like this is going to go down as the busiest June on record! According to data pulled from the Iowa City MLS today the number of homes sold in Iowa City this month to date is at 108. That's down by about 30% compared to June 2010 so far. There need to be a lot of closings in the next couple of days to bring that number up. There are 161 homes Sale Pending or Contingent. (Sale Pending or Contingent means they have accepted offers that may still have contingencies on them to fulfill before closing). The number of homes showing as Active Listings is down compared to last week with 516 homes in Iowa City currently listed as active. 516 Active Listings 161 Homes Pending or Contingent 108 Homes Sold in Iowa City in June to date - 66 Single ... 06/27/2011

June is historically the busiest month for closings in Iowa City. I checked the Iowa City MLS this morning and the number of homes sold in Iowa City in the month of June to date is at 88. There are 151 homes Sale Pending or Contingent. (Sale Pending or Contingent means they have accepted offers that may still have contingencies on them to fulfill before closing). There are currently 542 homes in Iowa City showing as Active Listings.The Absorption Rate is at 9.2 months this week, that's an average of 279 days on market. We still have lots of inventory to get through in Iowa City and although we're moving in the right direction home sales are down compared to last year. This applies especially to condos. Condo sales were down significantly as you can see in my May Market Report and that t... 06/20/2011

It's June and home sales are doing pretty well in Iowa City this month. Checked the Iowa City MLS this morning and the number of homes sold in Iowa City for the month of June is at 37. It's only June 7 so there's plenty of month left to get those numbers up. There are 169 homes Sale Pending or Contingent. (Sale Pending or Contingent means they have accepted offers that may still have contingencies on them to fulfill before closing). There are currently 546 homes in Iowa City showing as Active Listings. The Absorption Rate is at 9 months this week, that's an average of 275 days on market. We still have lots of inventory to get through in Iowa City. The number of homes sold and pending is definitely on the rise and June and July are the biggest months for closings in Iowa City so we'll pr... 06/07/2011

It's the Iowa Arts Festival Weekend in Iowa City this weekend. One of the big events of the year. Anyone want to lay any bets on it staying dry? (I'm sure not holding my breath). Iowa City offers wonderful community events throughout the summer with the Summer of the Arts Initiative. We're off to a pretty wet start to Summer of the Arts this year, but we won't let that stop us. It's such a great way for the community to come together and enjoy the outdoors with Free, Family Friendly Fun. Schedule for Iowa Arts Festival June 3, 2011 - June 5, 2011 Friday kicks off at 4.00pm when Culinary Row opens. Entertainment for the evening starts on the Main Stage @ 7.00pm with Crooked Still. Followed at 9.00pm by Joe Ely Saturday, June 4 kicks off at 10.00am with the ART FAIR with over 125 fine art... 06/03/2011

70 homes sold in Iowa City in April 2011 compared to 101 in April 2010. Not exactly inspiring numbers for the Iowa City market in April. Granted the first time home buyer tax credit bumped up the numbers in 2010.  The lack of spring weather may also have held buyers back this year. A 31% decline in home sales is still not something I can put much of a positive spin on.  Contingent and pending sales are on the rise so hopefully in the coming months I'll have more positive data to share with you. There are major shifts in the Iowa City real estate market. Whether you're buying or selling a home, data is your friend. If you want to stay on top of what's going on in the Iowa City real estate market check back often for updates. With warmer weather and increased buyer activity next month cou... 05/30/2011

Summer is a wonderful time to be in Iowa City. There is so much to do with the Summer of the Arts non-profit organization providing a collaborative environment for the community to promote the Arts in Iowa City. Iowa City is a busy little town so there are things to do all year, but it's so much more fun when we can take it all outside! The Friday Night Concert Series and Downtown Saturday Night are both in full swing as we head into the Memorial Day Weekend - The unofficial kick-off to summer. Tonight, (May 27), David Zollo and The Body Electric will be performing. Tomorrow, (May 28), it's Mutiny in the Parlor. Where? Downtown Iowa City, at the Ped Mall. The kids can play at the playground while you enjoy the music. And it's FREE too. You can't do better than that! When? Friday May 27,... 05/27/2011

Checked the Iowa City MLS this Morning and the number of homes sold in Iowa City for the month of May has jumped to 68. There are 188 homes Sale Pending or Contingent. (Sale Pending or Contingent means they have accepted offers that may still have contingencies on them to fulfill before closing). There are currently 568 homes in Iowa City showing as Active Listings.The Absorption Rate is at 8.5 months this week, that's an average of 259 days on market. The number of homes sold and pending is definitely on the rise and June and July are the biggest months for closings in Iowa City so we'll probably see bigger changes in the absorption rate in the next couple of months.   568 Active Listings 188 Homes Pending or Contingent68 Homes Sold in Iowa City in May to date - 45 Single Family Homes,... 05/24/2011

Checked the Iowa City MLS this Morning and the number of closings in Iowa City for the month of May has jumped quite a bit since last week's update. We're now at 49 for the month.  There are 182 homes Sale Pending or Contingent. (Sale Pending or Contingent means they have accepted offers that may still have contingencies on them to fulfill before closing). There are currently 573 homes in Iowa City showing as Active Listings. The Absorption Rate has gone down a couple of points this week to 8.7 months, that's an average of 265 days on market. The number of homes sold and pending is on the rise and June and July are the biggest months for closings in Iowa City. Things are looking good to see bigger changes in the absorption rate in the next couple of months.   573 Active Listings 182 Hom... 05/17/2011

29 Homes sold in Iowa City in May to date. There are 176 homes sale pending or contingent. When homes are showing as sale pending or contingent it means they have accepted offers that may still have contingencies on them to fulfill before closing. There are currently 576 homes in Iowa City showing as active listings.The Absorption Rate is still holding steady at 9.4 months, that's an average of 283 days on market. The number of homes sold and pending is on the rise - Just not quick enough to have an effect on the absorption rate. June and July are the biggest months for closings in Iowa City. We may well see a change in the absorption rate in the next couple of months.  576 Active Listings 176 Homes Pending or Contingent29 Homes Sold in Iowa City in May to date - 19 Single Family Homes,... 05/09/2011

12 Homes sold in Iowa City since last week's market snapshot. There are 183 homes sale pending or contingent. When homes are showing as sale pending or contingent it means they have accepted offers that may still have contingencies on them to fulfill before closing. There are currently 574 homes in Iowa City showing as active listings. The Absorption Rate is holding steady at 9.4 months, that's an average of 283 days on market. The number of homes sold and pending is on the rise - Just not quick enough to have an effect on the absorption rate. We still have a lot more homes on the market than buyers to buy them. It's when that changes we will see a transition to a more balanced market.  574 Active Listings 183 Homes Pending or Contingent 12 Homes Sold in Iowa City since last week's mark... 05/02/2011

Denise, What exactly is the Absorption Rate and how does it impact the sale of my home? I was at a listing appointment last week and was asked this question. The term "days on market" is a term that we're all familiar with. This is the average time it takes for a home to sell. The Absorption Rate provides a mathematical formula to calculate how long it will take the current inventory of homes to be absorbed into the market. When we calculate the Absorption Rate the resulting number is the average number of days on market we're all so familiar with. So what exactly is this formula? It's surprisingly simple. Take the number of homes that sold in the past year and divide that by the number of homes currently available on the market. That number is the yearly turnover rate of homes. Divide ... 04/30/2011

45 Homes sold in Iowa City in April to date. There are 168 homes pending or contingent. Pending or contingent means homes that have accepted offers and may still have contingencies on them to fulfill before they close. There are currently 582 homes in Iowa City showing as active listings. The trend is still favored towards buyers with an Absorption Rate of 9.4 months, that's an average of 283 days on market. On the up side, the number of homes sold and pending is on the rise. What we need to happen is for the number of active listings to decline. We still have a lot more homes on the market than buyers to buy them. It's when that changes we will see a transition to a more balanced market.     582 Active Listings 168 Homes Pending or Contingent 45 Homes Sold in Iowa City in April to date... 04/26/2011