Here is your March 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 $176,000 which up 4.1% from this time last year. The average number of days that a property is on the market is 59, which is down 19.2% from this time last year, but up 18% from last month. There are 527 active listings in the Cedar Rapids Metro area, that is actually up 11.7% from this time last year.
In the Iowa City area, the average sale price is up 15% from this time last year to $261,000. Last month, there were 88 homes that were sold, which is up 22.2% from the previous month in the Iowa City Metro Area. If you have any questions about what this means to you, please don’t hesitate to call!