April home prices rise in Iowa, but sales fall

The housing market in the state and Corridor showed some improvements in April as weather warmed up but still had fewer homes sold than the same month last year.

Statewide home sales fell 7.9 percent from the same month last year, according to the Iowa Association of Realtors. There were 2,732 homes were sold in April 2014 compared with 2,967 homes sold in April of last year.

Following state averages, the Iowa City Area Association of Realtors reported that sales were down 9.7 percent with 489 homes sold in April 2014, compared with 542 sold in the same month last year.

In Cedar Rapids, though, the number was up 3.3 percent year-over-year, from 326 sold in April 2013 to 337 sold this April, according to the Cedar Rapids Area Association of Realtors.

But the average sale price did increase in Iowa, rising 4.6 percent from $146,119 in April 2013 to $152,786 in April 2014.

In Cedar Rapids, the average sale price improved, rising 1.5 percent from $166,594 in April 2013 to $169,045in April 2014. The median sale price also rose, up 5.4 percent - from $140,375 in April 2013 to $148,000 in April 2014.

In Iowa City, average prices slipped 2 percent, falling from $201,080 in April of last year to $196,909 last month. The average sales price from January to April, however, was up, rising 9 percent from $187,926 in 2013 to $204,919 in 2014.

Days on the market improved slightly from last year, down 1 percent, or 1 day from 98 days in April 2013. In Cedar Rapids, the average number of days houses spent on the market stayed stagnant at 90 days.