Iowa City ranks 16th for housing appreciation

The Iowa City market is reaping the benefits of stronger home prices compared to the rest of the country, ranking in the top 5% in the nation.

Nationally home prices have fallen 19.16% in the last five years, but in Iowa City home prices are up 3.04%. In our other Iowa markets, home prices are also up: 7.84% in Dubuque; 3.25% in the Quad Cities; and 1.72% in Cedar Rapids.

This compares to other cities: Des Moines, IA down 2.34%; Chicago, IL down 22.86%; and the Daytona Beach, FL area down 46.24%.

According to the Federal Housing Finance Agency, of the 306 MSAs  ranked by home price appreciation, Iowa City was 16th.

In fact, all of our markets in eastern Iowa ranked in the top 15% in the nation – Dubuque at 4th; the Quad Cities at 45th; and Cedar Rapids at 47th.

Analysts report that although there was an overall decline, 12 states showed price increases this quarter, which demonstrates that real estate markets are seeing some signs of life. Iowa City and our other local markets continue to provide a much more stable environment for purchasing homes and investing in real estate.

In fact, our current listing inventory is declining and multiple offers are being seen on existing properties for sale. Now is the time to start your home search and get your property listed in our markets, noted Caroline Ruhl, President of Ruhl&Ruhl Realtors.