Corridor home sales mixed in January

The Corridor housing market was a mixed bag last month with average prices and sales falling year over year in Cedar Rapids and sales rising as average prices fell in Iowa City.

A total of 198 homes were sold in the Cedar Rapids area in January, down from 207 sold in January 2014, according to the Cedar Rapids Area Association of Realtors. The average sale price of a Cedar Rapids home in January was $158,660, down from $161,091 in the same month last year.

It took more time to sell a home last month - 97 days on the market, compared with 88 days in January 2014.

At the other end of the Corridor, 115 homes were sold in the Iowa City-Coralville market, up from 83 in January 2014.

The average sale price slipped from $222,375 in January 2014 to $209,503 last month.

Fewer days were required to sell a home last month - 80 - than the 93 days needed in January 2014, according to the Iowa City Area Association of Realtors.

Earlier this month, the Iowa Association of Realtors reported home sale prices were up year over year in January, homes are selling faster but number of sales dipped slightly when compared with January of last year.

Four of the five largest real estate boards and associations in Iowa reported an increase in the number of sales last month when compared with January 2014.

While home sales in Iowa typically slow in winter, active listings statewide increased 12 percent compared with January 2014.

Pending sales are up 12.7 percent from January 2014.

Homes are selling faster when compared with last year.

The average days on market was 89 last month, down from 95 in January 2014.