First let me start out by apologizing.   I haven’t updated the blog in over 3 months.  In a way thats a good thing because it means I have been super busy growing and expanding my business but on the other hand I have been neglecting my bread and butter (internet lead generation). 

Anyways for the June Cedar City Real Estate market update.   Currently in Cedar City we have 327 active homes for sale.  In May we had 37 homes sell.  That is just under a 9 month supply of homes.  (if no new homes came on the market).   In my opinion that is a pretty healthy market.   If you need to sell now is a good time to do it.   While you may not get the high price you would have in 2007 you will also be able to purchase at todays lower prices.   If you are upgrading that could be a significant savings.  

So most of you are thinking “how am I saving money by losing money?’  Well let me show you the math.   Lets say you purchased a $100,000 dollar home in 2006.  Our market has dropped about 25% since the highs.   So your home is now worth $75,000.   So you lost $25,000 in value.   Now lets say you want to move up and purchase a $250,000 dollar home.   Well you get to purchase that $250,000 dollar home at todays values.  So that home would have cost $312,500 in 2006 or 62,500 dollars more.   Take that number and subtract it by the $25,000 you lost and you actually come out ahead by $37,500 dollars as opposed to purchasing the same home in 2006. 

Well that is all I have for you today but please check back often.  I will try to update this website regularly but in the  mean time if you have any questions or if there is anything I can do to help you please feel free to call me.

Ashdown Forest Subdivision in Cedar City is a very nice subdivision.  The subdivision is located just East of Fiddlers Canyon and is high enough to be in the pine trees.  The subdivision features walking trails, treed lots, and CC&R’s which protect the home owners investment but aren’t so limiting that they ruin the experience of living in Ashdown Forest.

Currently homes are selling in the $200,000 – $400,000 dollar price range and lots are selling from $35,000 – $50,000 dollar price range.  This is a significantly lower price then just 3 year ago.  Many people find the location desirable because it is just East of Canyon View Middle and Canyon View High School.  You also have Fiddlers Elementary school in the neighborhood.   These schools have all been highly rated for both academics and sports. 

If you are interested in seeing homes for sale in Ashdown Forest please call me at 435-701-0448 and I would be happy to show you homes in the neighborhood. 

Currently I have a 4 bedroom 3 bathroom home listed at $249,900.  The home features stucco and stone exterior, granite counter tops, tile floors and a cozy fireplace.   The home also has a bonus room above the garage.  It sits on .24 acres and features a 3 car attached garage.  

I have an amazing home in New Harmony I wanted to write about.  The home is 11,240 SF of pure elegance.   The home is built in the Southwest Style and no upgrades were left out.   This home sits on a 20 acre estate lot with 360 degree views from Kolob to the Pine Mountains.   The home is currently priced at $999,990 on a short sale but the bank is willing to look at all offers over $750,000.   In 2006 the home cost nearly $1,800,000 to build.  If you would like to preview this property please call me.  The owners are requesting proof of funds or a pre approval letter for at least $750,000 prior to previewing this exclusive home.   

Please call 435-701-0448 for more information.

In this post I want to cover the Iron County MLS sales numbers and reporting.  These #’s aren’t 100% accurate because there are sales that arent reported on the Iron County MLS but they should be a very good representation of our overall market.   For these numbers I will only be reporting the Single Family and Townhome/Condo sales.  

We had 302 total sales during the year (2009)   Of those sales the average price was $163,672 with an average list price of $178,462 for a differance of about 9% from list price to sold price.  

The average days on the market is 180 days!  That seems high to me but the numbers don’t lie.  I am guessing it has to take into account the agents that take listings at any cost then pester there clients for constant price reductions.  

The highest sold price in Cedar City this year was $475,000 with the highest list price that actually sold being $560,000.  

In 2008 The same search had 343 Sales compaired with the 302 in 2009 we had a reduction of about 12% in sales.  

The Average price in 2008 was $192,591 compaired to 2009 at $163,672 for a decrease in the average price of a home in Cedar City of 16% or just over 1.33 % per month!   This is another great reason why you shouldn’t overprice your home listing.  It is hard to reduce down and catch up when the market is declining at 1.33% per month!