Home sales, average price rose in Corridor, Iowa last month

More homes were sold last month and the average sale price rose in the Corridor and statewide.

A total of 302 homes were sold in April, according to the Cedar Rapids Area Association of Realtors, up 3.6 percent from 291 sold in the same month last year. The average sale price of a Cedar Rapids area home was $167,669 last month, an increase of 3.7 percent from $161,645 in April 2012.

Days on the market continue to decline, dropping from an average 107 days in April 2012 to 91 days last month.

The Iowa City Area Association of Realtors reported 191 homes were sold last month, up 7.3 percent from 178 in April 2012. The average sale price of a home rose 1.6 percent to $187,926 in April from $184,595 in the same month of 2012.

There were 161 pending home sales in the Iowa City-Coralville area on April 30, up from 140 at the end of April 2012.

The Iowa Association of Realtors Housing Trends Report showed home sales climbed 6.1 percent, to 2,851, in April from 2,688 homes sold in the same month of 2012. The average sale price of an Iowa home was $146,885 in April, up 1.4 percent from $144,813 in the same month last year.

Days on the market continued to decrease, dropping 12 days or 10.8 percent from last year. The average number of days on the market in April 2012 was 111 days, while the average last month was 99 days.

The number of homes on the market across the state at the end of last month was 18,331, down 13 percent from April 30, 2012 when the statewide inventory was 21,061 homes.

"Most of the numbers we track continue to show positive movement," said Don Marple, president of the Iowa Association of Realtors. "We have had 14 continuous months of year-over-year price growth in both the average and median sale prices.

"Although inventory levels did increase slightly in April from the prior month, more homes are still needed on the market to keep up with demand."