Iron County Real Estate Market

by bryceross on November 16, 2012

As a realtor, we are faced with challenging questions at times regarding the real estate market and our predications. Fortunately, we are starting to see some wonderful things happening in our marketplace. If a buyers ask “is now the time to buy my first home”, or if a sellers asks “is now the time to sell my home?”
Well the answer is, the proof is in the pudding. This year we have seen historically low interest rates, an increase in the number of homes sold, decreasing inventory, and a tremendous decrease in notice of defaults.

In Oct. 2011, there were 1076 homes listed on the market in Iron County. As October 2012, there were 846 homes on the market. As inventory decreases, the demand increases.

The number of sold listing year to date is up dramatically as well compared to 2011. In 2012, the total number of homes sold is 1012, compared to 2011’s 937. For most parts of the state, this seems to be the trend.

In 2012 the notices of defaults have declined to 357 filings, compared to 463 in 2011. Is the foreclosure crisis over? Probably not but we are headed in a positive direction.

So is now the time to buy your first home or sell your real estate? Many would argue yes. However, the decision is yours.
For more information regarding Cedar City Real Estate or Homes for Sale in Iron County, please contact Bryce Ross with Re/Max Properties at (435) 704-1438.

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{ 1 comment… read it below or add one }

Shalene Zingelman April 14, 2013 at 2:37 am

I was just wondering what price the new units at cedar crossing are starting at? The ones they are currently building. Two car garage not a one car garage.

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