Cedar City Utah Real Estate » Cedar City Market Data http://www.cedarcityonline.com/blog For More Information Contact Sam at 435-701-0448 Sun, 13 Jun 2010 16:26:27 +0000 http://wordpress.org/?v=2.9.2 en hourly 1 2009 Year End Cedar City Sales Report http://www.cedarcityonline.com/blog/2009-year-end-cedar-city-sales-report/ http://www.cedarcityonline.com/blog/2009-year-end-cedar-city-sales-report/#comments Mon, 04 Jan 2010 15:27:13 +0000 admin http://www.cedarcityonline.com/blog/?p=424 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!

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