Rising mortgage rates haven't changed the fantastic home sales trends we continue to enjoy in the Iron County area.
As the above statistics for March demonstrate, we are still seeing very positive key pointers.
Median sale price was up by over 29% on the same period last year, reflecting the excellent demand that we continue to see from buyers, many of whom are moving into the region from elsewhere.
Median list price showed an improvement of over 22% on March 2022, more or less rising in tandem with selling prices.
And it took just 68 days to sell an Iron County home, on average. This represents a 27.66% drop compared with March last year, which was an incredibly busy period in its own right.
While the upward trend in mortgage rates isn't a welcome one, so far it appears to be having a minimal effect in our area.
Although they have risen significantly, rates are still very competitive, when looked at from an historic perspective. It should also be remembered that not everyone is looking for a home loan and we continue to see a good flow of cash buyers moving into Iron County.
It makes nothing but good sense to list your home while the local market continues to trend so well, so give us a call at 435-327-2090 for an informal chat about your best options.