Cedar Rapids Home Prices Continuing to Rise and have Fewer Days on the Market

PRESS RELEASE - Homes in Iowa reached a new low in days on market. Sale prices continue to rise. Home sales in August did drop off from a year ago according to the Iowa Association of REALTORS®. The median sale price rose 5.8 percent from August of last year. The median price was $138,000 in August 2014 compared to $146,000 this year. “The low inventory level in many markets continues to shorten the selling process. We reached a new 5-year low with 63 days on market,” stated Jon Yocum, President of the Iowa Association of REALTORS®. “With interest rates still hovering around 4 … [Read more...]