116 3rd St SE
Cedar Rapids, Iowa 52401
Iowa City home sales jump sharply in May
Dave DeWitte
Jun. 11, 2010 11:36 am
May home sales climbed 31 percent from one year ago in the Iowa City area.
A total of 284 homes were sold in May 2010 compared to 217 in the same month of 2009. The average selling price declined from $179,619 in May 2009 to $171, 797.
The time required to sell a home also seems to be shrinking. The average days on market for homes in the Iowa City Multiple Listing service was 87, compared to 118 days in May 2009.
The home sales data was released Friday, June 11, by the Iowa City Area Association of Realtors.
Association leaders predicted last month that May would be another good one for home sales, as home buyers make a push to complete home purchases before the expiration of federal homebuyer tax credits.
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