Iron County Continues To Buck National Real Estate Trends

Much has been written in recent months about changes in national real estate trends.

What's really encouraging to report is that Iron County appears to be going against the grain, with some very good stats recently released for September by the Utah Association of REALTORS®.

While inventory of homes for sale has been on the increase in many areas of the country, here in Iron County it is still falling, which is very good news for anyone selling right now, as it means less competition and more robust pricing.

Inventory fell by over 10% in comparison with September 2017 and the number of months of inventory supply dropped by 23.5% over the same period.

And the mortgage rate increases we have seen this year are not yet having a negative impact on buyer demand. Closed sales rose by over 10%, year-on-year. This time frame also saw a 4.4% rise in median sales price and a 6.8% increase in average sales price.

Despite the rate rises, Iron County buyers actually achieved better returns than September last year, with the percentage of original list price received average increasing by over 1% to 96%.

Year-to-date pending sales have risen by almost 11% compared to the year-to-date period up to September 2017 and, using the same measure, new listings are up by 4%.

As we've mentioned before, the exodus of people moving out of the overheated California market is probably helping to boost figures here. The good news on that trend is that it's unlikely to end any time soon.

So there are plenty of great reasons to list your home right now, while buyer sentiment is demonstrably very strong indeed. Why not contact us today and find out more about the great successes we are achieving for our wonderful clients and how we can do the same with your home sale.