Iowa housing market improving - KWWL - Eastern Iowa Breaking News, Weather, Closings

Iowa housing market improving

Posted:
IOWA CITY (KWWL) -

Meghan McGonigal-Kenney never thought selling a home could be so easy.

"I was pretty surprised," she said.

She and her husband found a buyer just two days after it went on the market.

"People are definitely looking in this particular area and hearing other stories about how they really want something in this neighborhood," McGonigal-Kenney said. 

While few may experience similar rapid results, the quick sale may be representative of an improving Iowa City area housing market.

"There's such an attraction to Iowa City, and we have a lot of people moving in and out with the university here," said John Marshall, President of the Iowa City Area Association of Realtors. 

Marshall's organization is reporting more activity this April when compared to that of a year ago.

The Iowa City area has been named among the top 25 most stable markets in the country.

"Average sale prices up fairly significantly in Iowa City.  The number of homes being sold is up," Marshall said.

Statewide is seeing similar trends.  Home prices have increased by more than eight percent this April when compared to last, much better than the national average.

All measurements portray a stronger first quarter in 2012.

"I think we've turned things around quite a bit, and I'm looking forward to a number of good years here," Marshall said.

Housing experts say with historically low interest rates and reasonable prices on homes, it's a good time to buy.

A point McGonigal-Kenney isn't arguing.

"You know if you don't act quickly, in a week, it can be gone," she said.

Powered by Frankly