The scale finally feels like it has tipped in the favor of buyers in the Iowa City metro housing market. Buyers have negotiation power and the most recent month over moth home sale data shows proof–home prices are beginning to come down. It’s the story being told over much of the nation after years of sky rocketing prices. Housing inventory is increasing and we seem to have hit the ceiling for home prices and now sellers are facing a choice: either reduce the price to grab to one of those rare buyers…or sit (and sit) on the market. Locally, year to date data is showing a very small rate of appreciation in the Iowa City metro of less than 1% growth, but the most recent month to month data is showing median sale price reductions of 1-5%, depending on housing type, which confirms what real estate agents have been talking about amongst themselves.
🩷 If you’d like to talk with me about BUYING or SELLING real estate in the greater Iowa City or Cedar Rapids areas, feel free to call/text 319-594-4455 or email me at Emily@EmilyFarber.com
I’d love to talk with you!
⭐️ Interested in working with me but want to know what others are saying? Read my reviews here! https://bit.ly/44mOR1S
✅ Thinking about RELOCATING? Be sure to download my free Iowa City area relocation guide here: https://homeiowacity.com/iowa-city-relocation-guide
