Buying a house is a bit like planning for your wedding day — there are months packed with excitement, stress, planning, and then, finally, the big payoff. Although I can’t help you with
October 2017 Cedar Falls Market Analysis
Cedar Falls Real Estate Market Report
Current market environment:
168 homes for sale
Highest priced listing: $1,547,600
Lowest priced listing: $79,900
Pending Sales (properties under contract): 73
The most listings per price range is in the $150,000- $200,000 range, at 35 current listings.
October 2017 market:
October closed sales: 56
Median sales price: $188,950
Highest sale price: $389,900
Lowest sale price: $60,000
The strongest price range in terms of number of sales in Cedar Falls both in October and YTD is the $150,000- $200,000 range, leading just ahead of the the $100,000- $150,000 range.
Absorption rate summary
What is absorption rate? It's an estimate of how long (in months) the current inventory of homes will turn over. A balanced market typically holds inventory for 5-7 months. So less than 5-7 would indicate a seller’s market (more demand leading to higher prices and quicker sales) and more than 5-7 would indicate a buyers market (less demand leading to lower prices and slower sales).
The price range of $350,000- $400,000 resulted in 8 months absorption. There are currently 19 listed homes in this range with YTD sales only at 24 total. Homes in the $500,000+ range returned a 21.7 month absorption. All other price ranges returned a number less than 5 months, indicating an overall seller’s market in Cedar Falls.
Jessica Schoof, Structure Real Estate
I offer streamlined real estate expertise to meet the buying and selling needs of my clients in Cedar Falls, Waterloo and surrounding areas. I take pride in exceeding my clients' expectations and deve....