Here is your February 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 $183,000 which is down .5% from last month and up 10.9% from this time last year. The average number of days that a property is on the market is 52, which is down 3.7% from this time last year, but up 10.6% from last month. There are 539 active listings in the Cedar Rapids Metro area, that is roughly down 3.6% at this time last year.
In the Iowa City area, the average sale price ticked slightly up from last month to $265,000. The number of active listings is actually up 9.9% from this time last year – there are about 736 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!