There are many great Cedar City area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (435) 590-1373 for a FREE home buying or selling consultation to answer any of your real estate questions.
What is the Current State of the Cedar City Real Estate Market
Right now, the Cedar City Market is favoring sellers; there simply isn’t enough inventory to sustain the amount of sales. We’re experiencing some great growth from all the businesses coming into the area and it also makes for a great market for selling!
As for interest rates, the rates for a 30 year mortgage are hovering at about 4%. I hate to say it, but based on actions from the Federal Reserve, interest rates will rise in the coming months. These are unnaturally low interest rates!
Right now, there are 279 homes on the market in comparison to the 325 homes that were on the market this time last year. This equals about six months’ of inventory! Also in 2013, home prices were up 20% overall; we are currently up 3% from January 2013. This helps sellers obviously, but buyers need to get off the fence if they are thinking about buying. You won’t have another time where both interest rates and home prices are low!
Please reach out to me if you have any questions. Thanks and have a great day!
