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January
4
4
Despite Old Man Winter, Cedar Rapids Real Estate Market Warming
CEDAR RAPIDS – Even with Jack Frost nipping at our nose – the Cedar Rapids real estate market is still warming up. Homes pending in November, meaning those real estate transactions that have a contract signed but have not closed, are up 3% this month compared to November 2011. Pending sales are a good predictor of the market one or two months from now, as a percentage of those sales end in closed transactions. "This increase in pendings shows us that the uptick we saw in 2012 is going to continue into the New Year," said Caroline Ruhl, President of Ruhl&Ruhl REALTORS. "We were fortunate to not have the huge downturn in the Cedar Rapids real estate market suffered by others and we are lucky that we are already back on track from the dip we had." Here's what else is happening in the Cedar Rapids real estate market: Cedar Rapids Area - November This month compared to the same month a year ago:
- Number sold was down 18.3% - from 300 to 245
- Number of pendings was up 3% - from 266 to 274
- Number of current listings for sale were up 2.6% - from 1,990 to 2,042
- Average sales price of properties sold was up 3.2% - from $157,000 to $162,000
- Days on market was up 13.3% - from 75 to 85
- Number sold was down 31.9% - from 360 to 245
- Number of pendings was down 12.7% - from 314 to 274
- Number of current listings for sale were down 4.4% - from 2,136 to 2,042
- Average sales price of properties sold was down 3% - from $167,000 to $162,000
- Days on market was up/down 2.4% - from 83 to 85
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