2016 year end Cedar City and Enoch Market info.
Market data from the Iron County MLS shows the year end results from 2016 included an increase in sales as well as average sales price and a decrease in time on the market.
- Homes sold were up 3% from 748 homes in 2015 to 771 homes in 2016.
- Average days on the market was down more than 10% from 141 in 2015 to 123 in 2016.
- The average sales price increased by almost 10% from $171,349 in 2015 to $188,040 in 2016.
Needless to say, the hottest price range still remains below $200,000. There were 510 homes sold this last year in that price range as compared to 212 homes sold between $200-300k. Between $300-400k there were 42 sales, $400-500k there were six sales, $500-600k there were four sales and over $600k there were four sales. The good news for high end home owners would be that in 2015, there were no sales of homes above $600k and there were only two sales of homes between $500-600k.
As of January 19, 2017 when this was written, there are 229 active listings on the Iron County MLS in the Cedar City and Enoch areas.
Mortgage rates are still historically low but expected to rise over the next year. If you have been thinking about buying and would like to start receiving information on the most recent listings please give me a call and let me start helping you to find your dream home.
If you have been considering selling, there has almost never been a better time. My team and I work very hard to give the highest degree of customer service and professionalism from the initial listing through offer, escrow and closing. Give me a call today and allow for our experience to go to work for you and make the sale of your home as effortless as possible.