Home sales rise in Corridor, State

Sales of single-family homes in both the Corridor and the state of Iowa rose in March when compared with the same month of 2014.

A total of 340 homes were sold last month in the Cedar Rapids metropolitan area, up 26.9 percent from 268 in March 2014, according to the Cedar Rapids Area Association of Realtors. The average sale price ticked up 18.4 percent to $185,389 in March from $156,615 in the same month of 2014.

It took less time to sell a home, with an average 85 days on the market, down from 108 days in March 2014.

At the southern end of the Corridor, the Iowa City Area Association of Realtors reported 218 homes were sold in the Iowa City metro area last month, up 77.2 percent from 123 in March 2014. The average sale price slipped 0.4 percent to $201,673 in March, from $202,465 in March 2014.

The average time on the market before an Iowa City area home sold fell to 82 days last month from 101 days in March 2014.

Statewide, the Iowa Association of Realtors recorded 2,870 homes sold in March, up 17.3 percent from 2,446 in the same month of 2014. The average sale price increased 9 percent to $158,163 last month from $145,096 in March 2014.

Days on market before a home was sold dropped to 92 in March from 101 days in the same month last year.

Jon Yocum, president of the Iowa Association of Realtors, said in a news release that the improving economy and warmer weather had Iowa buyers and sellers very active in March.

'The six largest market areas experienced double-digit percent increases in home sales,” Jocum said. 'The number of homes for sale is low in many areas, which results in multiple offers on a home.”