The Waterloo-Cedar Rapids area of Iowa is a family-oriented community with an emphasis on education resulting in an active housing market say local Realtors.
"Waterloo is a great family area," says Realtor Celia Simmer, "with lots of trees, parks, bike trails and an excellent educational system from pre-k to university.
"We look forward to a great new year in the real estate market," says Simmer. "For your information I have supplied the December statistics for the Waterloo-CedarFalls MLS. There were 172 sales in December 2003 compared to 151 in 2002. Median sale price was $83,950 in 2003 compared to $87,000 in 2002. The average sale price was $104,385 in 2003 compared to $105,290 in 2002."
Says Realtor Ed McAtee, "Waterloo is a city divided by the Cedar River, nestled in the Cedar Valley in Northeast Iowa. An older community, Waterloo is a city of around 75,000 people. A city of industry, John Deere resides in several locations in the Cedar Valley, Waterloo included.
McAtee explains, "The majority of homes in Waterloo date from the late 1800's to the mid 1980's, but newer developments can be found south of Highway 20 in the Audubon Park area. Average closed sale price of homes in the area is $92,500, with an average market time across the board of 60 days. The numbers break down by bedroom like this: For homes with two or less bedrooms, the average sale price is $70,452. For three bedroom homes, average sale price is $93,948. Four bedroom homes have an average sale price of $131,701, and five bedroom or more homes have sold for an average of $204,182.
"Similar to Waterloo and it's neighbor, Cedar Falls is home to the University of Northern Iowa," explains McAtee. "That being said, the southwest side of the city is very much a campus town with student-occupied rentals surrounding a wonderfully laid out campus. The real estate market here is doing very well for both the investor and homeowner alike. The population is around 30,000 people, but that number is on the rise with recent developments in the Cedar Falls industrial park area, as well as a massive regional distribution center for Target Corp. opening this past year. The average home sales price is $156,183; broken down by bedrooms, the numbers are as follows: Two bedrooms or less; $98,889. Three bedrooms; $134,564. Four Bedrooms; $220,134, and with five or more bedrooms the average sales price was $310,718."
"The Waterloo marketplace is similar to Cedar Falls," says Realtor Gloria Mueller. "Homes under the $150,000 price range are very active. Above $200,000 there is a nice selection of both existing homes and new construction. It is a great time to upgrade from your current home."
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Published: January 8, 2004
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