Cedar Rapids area home sales up, pending sales off in June

More Cedar Rapids area home sales were completed last month than in June 2009, but pending home sales were down, according to data from Iowa Realty.

The overall market's closed sales were up 50.5 percent over last June. Pending sales were down 23.2 percent from June 2009.

The average sale price was equal to last June's $159,000. Homes sold in June spent an average of 76 days on the market.

By market segment, closed existing home sales were up 44.5 percent over completed sales in June 2009. Pending existing home sales were down 15.9 percent from June 2009.

The average sale price of an existing home was $151,000, unchanged from last June. The average time on market for a resale home in June was 65 days, down five days from May.

Completed sales of new homes were up 84.1 percent from June 2009, but pending sales were down 47.1 percent. Inventory declined by 2.6 percent or 10 units from May.

The average sale price of a new home was $194,000, down $11,000 from last June's average price of $205,000. The average square foot price for the month of June was $130.60 per square foot, compared with $141.50 per square foot in June 2009.

A new home spent an average of 123 days on the market.