Interesting Market Data Cedar City Real Estate

By
Real Estate Agent with Keller Williams Legacy

Interesting trends in the Real Estate Market in the Cedar City area.  Six weeks ago I did a market analysis about days on market changes.  It was interesting to note the changes.  This morning I updated my market research, it was really telling. 

Dates:

Average Days on Market

Median Days on Market

9/1/2007-9/27/2008

154

132

10/31/2007-10/31/2008

104

96

This is really interesting that it would drop that much in a relatively short time. With the credit crunch, I would have thought that this would have increased.  I am sure the bargains found in some forclosure and short sale homes have greatly influenced the Days on Market in the Iron County Board of Realtors.  

This month I decided that I needed to get more data, so I also calculated the average sales price vs. the average list price.  I was a little surprized that board wide homes are selling at 94% of the listing price.  That was a great surprize with all the media telling us how desparate homeowners are to sell.  I would have thought that the numbers would have been worse.

Maybe the market here isn't as bad as it has been made out to be.  I will try to keep up with this information as the market adjusts and moves forward.

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Rainmaker
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Charles McDonald
Charlottesville Real Estate Solutions - Charlottesville, VA
REALTORĀ®, Blogger, Principal BrokerĀ®, Owner

WOW! That is a considerable change! Keep up the good work and thanks for keeping us posted!

your friend in Charlottesville!

Nov 05, 2008 07:11 AM #1
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Rainmaker
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Tony & Darcy Cannon

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