The latest year-to-date Iron County real estate market statistics once again point to the great sellers' market conditions we're experiencing right now.

With median sales prices up by 9.7% in the past year and average prices having risen by 9.2% in the same period, we're now seeing the best sold prices in the area for over six years!

It's also interesting to note that the average number of days a home is on the market until it sells has fallen by 12.9% so far in 2016.

Last time I wrote to you I commented how inventory of available homes for sale was pretty flat, at a time when we would expect to see a high number of listings coming on to the market. That situation hasn't changed significantly and, in May, we saw a very slight 1.4% year-on-year improvement.

With limited supply in the market comes less choice for buyers and this possibly explains why the overall number of closed sales for the year-to-date is 5.6% down on the same period as last year, as buyers continue to look for a home that exactly matches their needs. In May, however, closed sales were up on 2015 by 4.3%, as the peak selling season got under way and mortgage rates continued their dramatic move south, a phenomenon that continues today.

The impact of ultra-low home loan interest rates cannot be overstated, as buyers are highly motivated to lock in near historic rates while they still can.

This means that, with inventory still levels less than ideal, prices are holding up very well indeed. If your home is priced correctly for the market and condition, it will sell!

All this of course points to a fantastic opportunity for sellers to take advantage of the current situation. Why not call us today to make the most of it!

In my last blog, I talked about how inventory of available homes in the area is struggling to keep up with the incredible demand from buyers.

If you're looking to buy right now, it's quite possible that you're having a difficult time finding a match that suits you ideally.

If that sounds like your dilemma, have you considered the possibilities of buying a newly constructed home?

Our picture above shows a typical home that is currently being built in Cedar City's Hunter Glenn subdivision.

There are four homes under construction there right now, with over 30 lots still available.

When purchasing an existing home, unless you are planning extensive remodeling, you are buying into someone else's vision of the perfect design.

At Hunter Glenn you get to pick things like color schemes or there's even the fantastic opportunity of talking to the builder and getting a full custom home, made to your exact specification.

The even better news is that the costs are still comparable with buying an existing property in the same class and the clear advantage is that you get what could be a once in a lifetime opportunity to create your dream!

Why not give us a call today and come and take a look at the many possibilities for yourself. We look forward to helping you.

The above graphic shows that the Iron County real estate market has seen a very steady supply of active listings so far in 2016.

This is an unusual characteristic as we are at the point in the year where we traditionally see a high number of listings coming onto the market. Right now that isn't happening!

Supply is being kept in check, at least partially, by the increasing number of sales we're seeing.

Buyers remain extremely motivated by ultra-low mortgage rates, which are now well below 4% and show possible signs of moving even lower!

And with the announcement at the end of last week that rates were near to their lowest level for several years, it's reasonable to expect buyers to continue to be in the mood to purchase now, rather than delaying and risking the current almost perfect market conditions changing in some way. And let's not forget, as if we could, that there will be Presidential election in November, with unpredictable consequences for the homes market.

So what does all this mean to you if you're currently thinking of selling?

The good news is that there is only good news for sellers right now. With fewer homes around than usual this summer, competition is reduced and there's a much better chance of holding your price, or even receiving multiple offers at or above what you're asking.

Indeed the only reason a home will not sell right now is if there is too high an asking price. If the price is right, it's going to be sold!

Some might cite condition of a home as another reason for it remaining on the market. However this can almost always be solved by correct pricing.

The temptation to play a waiting game in the hope of selling for an even better return in future is a huge gamble. While mortgage rates seem to be going in the right direction, all the predictions this year were for the opposite to happen and it wouldn't take many changes to see them heading north once more, diluting buyer sentiment in the process.

Our strong advice is to act now while the market is in the best overall shape anyone can remember. Call us today for advice relevant to your individual circumstances.

The latest statistics (for March), recently released by the Utah Association of Realtors once again demonstrate the fabulous current opportunities for home sellers in Iron County.

Demand from buyers continues to inform the figures and one of the really big highlights is the progress that both median and average sales prices have made during the past year. Median sales price is up by 9.9% and average sales price shows an even more impressive 15.3% increase.

With mortgage rates still threatening to go even lower, buyer sentiment remains high and March saw 12% year on year growth in closed sales, as the selling season really starts to gather momentum.

In other recent market updates, we've talked about low inventory of available homes for sale in the area. It's therefore interesting to note what might be the beginning of a reversal of this trend. So far this year, there has been a 12.7% increase in new listings and a 16.3% rise in pending sales.

To counter balance these figures, it's interesting to note that overall inventory is still falling, with a 6.5% annual drop in March and a 17.7% fall in the months' supply of inventory in the Iron County marketplace. So far in 2016, there has been a 2.6% rise in the average percentage of original list price received (standing at 94.8% at the end of March).

In summary, we are still in what is unquestionably a seller's market. However, these latest figures do suggest that more competition is entering the market, as more sellers recognize the opportunities.

Our advice therefore remains the same - playing a waiting game hoping for even better conditions is a significant gamble. It's also worth remembering that we are in an election year, so delaying your sale until 2017 will carry even more risks of a change in the current highly favorable circumstances.

Why not call us today for an informal discussion of the best options in your individual situation. 

The latest real estate statistics, published by the Utah Association of Realtors, paint an incredibly positive picture for sellers in Iron County.

The figures demonstrate a 19% year on year fall in the number of months supply of inventory of available homes in the area. The figure now stands at just 5.1 months of supply.

This is happening against the backcloth of a 10.4% year to date rise in pending home sales and significant increases in both median (11.5%) and average (14.5%) sales prices so far this year.

This year has also seen a 9.8% drop in the average number of days a home is on the market in Iron County until it sells.

The entire market is being driven by very high buyer sentiment as low mortgage rates continue to inform and positively influence the market. Just this week, CNBC reported that 30 year home loans are now at their lowest interest rate level this year, with some stronger recent signs that they could fall even further!

There's also evidence to suggest that more on the fence sellers are finally recognizing the incredible opportunities presented by low inventory, rising prices and high demand. February saw a 29.2% increase in new listings, compared with the same period last year. Although the percentage sounds dramatic, it actually amounts to an annual rise of about 28 homes in the month, so it isn't going to make a vast difference of itself. What will be more interesting is to see how trends progress as we approach the busiest selling period of the real estate year.

For now, however, the message to would-be sellers couldn't be more clear. There are qualified buyers ready and willing to purchase the right property and lock in a low mortgage rate. Delaying listing your home is not a smart strategy, as there are never any guarantees that these positive dynamics won't suddenly change.

Call us today to discuss your very best options.

With mortgage rates falling steadily since the beginning of the year to near record lows, we are seeing some of the strongest home buyer sentiment we've ever witnessed.

And yet, in spite of great demand, inventory of available homes for sale in Iron County is at a very low level, in relation to the demand that is out there from buyers who are ready, willing and able to make a purchase decision right now, before anything spoils the incredible opportunities they are currently enjoying.

If you have been considering putting your home on the market, there really could be no better moment to do so than right now.

Apart from a growing pool of qualified and enthusiastic buyers, remember also that, with fewer homes available, there's simply less competition from other sellers. What's maybe even better news is that supply shortages such as this can only encourage multiple offers at or even above asking price - something that's happening in Iron County with increasing frequency, and no wonder in these stunning market conditions.

It really is a seller's paradise at the moment. A shortage of available homes at the same time as there are so many buyers chasing them is pretty much a dream come true, not only in terms of quickly selling your home but at the right asking price too.

There are many reasons why homes aren't coming onto the market, not least that many buyers postponed the idea a few years ago, when selling any home was a tough task. With an economy growing in strength, far better job prospects and amazingly cheap home loans, the situation couldn't be more different today.

Why not contact us today and explore the possibilities with us.

How fast the year seems to be going by and it seems hard to believe that we're already rapidly approaching Back to School time.

We think it's very important that no kid should start the year off without the basics, so we're absolutely delighted to be donating 100 LOADED back packs for local schools in the coming days.

Pictured right is the scene in our offices earlier today, with all the supplies we need to put the packs together.

We're extremely grateful to be able to give back and to help others.