The local real estate market should not be compared to the downward-turning national market, a local group of Realtors said Monday.
The Iowa City area’s low unemployment rates, strong economy, the University of Iowa and good school district help to keep the housing market strong, said Sally Cline, president of the Iowa City Area Association of Realtors.
“We are somewhat insulated,” she said at a meeting with reporters at the association’s office at 438 Highway 1 W.
From Jan. 1 to Aug. 31, there were 2,048 homes sold in the area, an amount that has increased steadily since 2004, when there were 1,833 homes sold in that time, said Jeff Dill, ICAAR treasurer. Also, the number of homes that sold within the first 30 days went up between 2006 and 2007, he said.
“That might be surprising to people based on what they are hearing,” he said.
Realtors Monday highlighted the area’s public schools as one way to see that the housing market is not in trouble in the area.
Jim Behle, Iowa City School District associate superintendent, said a week ago the district began to finalize its annual enrollment count. And while the numbers won’t be complete for another week, he said the district is seeing enrollment jumps in a number of areas.
Typically, Behle said elementary schools have the most growth from year to year, but this year, there have been increases at junior highs and high schools — something he said hasn’t happened in four to five years.
Enrollment at City High increased by 137 students this year and that increase was not due completely to a policy last year banning new enrollment at West High, Behle said. He said only about 44 students were affected by that policy.
Behle said he guessed that the some of the growth was because of the housing market on Iowa City’s east side — both with an influx of new houses and more affordable rental properties.
Realtors on Monday also said people are moving to the Iowa City area even if they were elsewhere in the Corridor.
According to a study done for the Iowa City Area Devel-opment Group, almost 6,000 cars leave the area to travel to work in Cedar Rapids.
“This is one of the fastest-growing areas of Iowa,” Realtor Alan Swanson said.
By Kathryn Fiegen, Iowa City Press-Citizen
