Key Current Trends in the Iron County Real Estate Market

The main highlight of our local real estate market right now is that it is somewhat flat overall.

As the above Absorption Rate chart shows, there has been quite a recent jump in the amount of homes on the market.

Of course some of this is seasonal, given that more homes come on the market at this time of year, as can be seen from the Number of Listings chart.

There are more buyers around in the summer months too, which is partially reflected in the recent drops in the Days On Market chart. However you will also notice that it's taking over 20 days longer to sell, on average, than a year ago. 

Homes are still selling, but pricing and condition are absolutely critical, especially with mortgage rates continuing to present challenges to buyers.

This is a time to be realistic about where your home sits in the market. Successful sellers right now will have addressed this correctly.

Homes in the best condition in any market segment will always attract the most interest, but still need to be priced in line with where the market sits at the moment. It's critical that you acknowledge and respond to the needs of buyers, who are in the driving seat on deals a lot more than has been the case for a long time.

Feel free to contact us at 435-327-2090 to discuss how you can optimize your home sale, based on our intimate day-to-day knowledge of the market and current buying triggers.