September Home Prices, Sales Mixed in Corridor, Iowa
CEDAR RAPIDS, Iowa - Home price and sales statistics paint an uneven picture for September in the Corridor and the state as a whole.
A total of 337 Cedar Rapids area homes were sold last month, down from 341 in September 2012, according to the Cedar Rapids Area Association of Realtors. The average sale price rose to $165.066 in September 2013 from $153,109 in the same month of 2012.
In Iowa City, Coralville, North Liberty and surrounding communities, 181 homes were sold last month, down slightly from 186 in September 2012, according to the Iowa City Area Association of Realtors. The average sale price slipped from $195,641 in September 2012 to $188,208 last month.
Statewide, 3,020 homes were sold in September, up from 2,819 homes sold in September 2012, according to the Iowa Association of Realtors. The average sale price rose to $153,890 in September 2013 from $148,158 in September 2012.
Days on the market were down by 15 days, or 16 percent. The average number of days on the market in September 2012 was 94 days, while the average in September 2013 was 79 days.
Although new active listings increased by 11.7 percent in September, the statewide inventory of homes on the market declined 4.5 percent from last year. Inventory was 20,982 in September 2012 and 20,039 last month.
"Due to the high number of pending sales we had during the summer, the September numbers are consistent with what we expected," said Don Marple, president of the Iowa Association of Realtors. "September marked the end of the third quarter, which looked good overall as well.
“Year-over-year for the third quarter, 2013 had the highest number of sales since the third quarter of 2005. Along with the good news of increased sale prices, a significant decrease in days on the market illustrates that the trend of upward pricing is sustainable in the current market."
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