The above and below graphs, kindly provided by our friends at Inwest Title, provide an ample demonstration of some of the key real estate trends we've seen in Iron County during the first half of 2024.
While they took a small dip in June, there's been an upward trend in sales during the year to date, improving on where we were at this time 12 months ago and pretty even with what we saw in 2022. 2021 was, of course, at the tail end of an exceptional, arguably once-in-a-lifetime pandemic-driven market with sky high demand.
Median sales prices have been under some pressure during the year, but this can be viewed as market price correction, for the most part. Where we're at right now is roughly on a par with last year.
At the same time, however, demand has been good, which leads to the almost continuous fall in average number of days on market throughout the year so far.
Until May, we'd seen a climb in the number of new listings hitting the Iron County market, in line with the more widespread national trend for growing inventory. June saw a drop in home availability in the area, possibly indicating an opportunity for sellers for the rest of the summer selling season.
To summarize, there are some really good indicators of strong buyer activity and success for sellers. More inventory and sensible pricing has undoubtedly attracted more buyers to look at moving once again, while sellers who have a realistic attitude to asking price are seeing very decent returns.
Don't hesitate to contact us at 435-327-2090 if you'd like to informally discuss current market conditions in relation to your particular circumstances. We always love to help.
