Here is your Market in a Minute – a quick snapshot of today’s real estate market in both Cedar Rapids and Iowa City. In the Cedar Rapids metro market, we are seeing the average price hovering around $186,000 which is up 3.9% from last month and 3.3% from this time last year. The average number of days that a property is on the market is 52, which is down 1.9% from this time last year, but up 33.3% from last month. There are 596 active listings in the Cedar Rapids Metro area, that is roughly the same amount of listings at this time last year.
In the Iowa City area, the average sale price ticked slightly up from last month from this time last year to $264,000. The number of active listings is actually up 13.9% from this time last year – there are about 654 active listings in the Iowa City Metro Area. If you have any questions about what this means to you, please don’t hesitate to call!