Home sales up in Corridor, Iowa

Home sales rose in November from the same month of 2010 in Cedar Rapids, Iowa City and Iowa as a whole as low mortgage interest rates continued to attract more buyers.

The Cedar Rapids Area Association of Realtors recorded 276 home sales last month, up 4.5 percent from 264 in November 2010 but 34.1 percent below 419 in the same month of 2009. The average sale price in November was $160,116, off 0.6 percent from $161,122 in November 2010 but 8.3 percent higher than $147,865 in the same month of 2009.

At the south end of the Corridor, the Iowa City Area Association of Realtors said 139 homes were sold last month, up 19.8 percent from 116 in November 2010 but 30.8 percent lower than 201 in November 2009. The average sale price was $180,354 last month, up 1.3 percent from $178,057 in November 2010 and 5.4 percent higher than $171,041 in November 2009.

Read more at Business380.com