New stats!~ It's a new month, so we have new info for the Cedar City/Enoch/Outlying areas:

Active listings - 288, with a median list price of $193,766. Interestingly, only 6 active REO homes, and 15 Short Sales.

Sold for the past 12 months - 570! REOs were 82 of those, and Short Sales 119. Median SALES price? $135,000

How About Some Local Stats!

As you might have heard on the radio show last Friday, our local market is in a pretty healthy place right now.

Residential active listings (for Cedar City and Enoch/outlying areas) are 308. The median list price is $179,900. This seems high, but the closed median price is at $125,200 still.  The really good news is that only 8% of our market is foreclosure or short sales!

In the past 12 months there have been 592 residential transactions close. About 47% of those sales were either foreclosures or short sales.  What this means is the distressed sales are still a bit lower priced than conventional sales, and are being sold faster than conventional sales.

What's 'up' with interest rates?

We've seen a slight bump - from about 3.5% to 3.9% - and it looks like we're on an upward trend. Reports are that we could be at around 5% by this time next year. We've been very spoiled for the last few years, as interest rates have been at a low not seen in generations. Remember, though, that for every point the interest rates go up, buyers lose a little bit of purchasing power.

Fortunately, we've still got access to some fantastic loan programs here locally. USDA, which is a 100% loan-to-value program, and FHA, with a down payment requirement of about 3.5% are some of our most popular loans.

Call or email, and we can get you to our favorite lender for all the details!

CedarCityInfo.Com Up and Running!

We finally have the newly revamped CedarCityInfo.Com website up and running!

Our website includes a comprehensive search engine for properties within Cedar City, Iron County, and Beaver County. We also have a page for our rental properties, which we manage in Cedar City.

Be sure to contact us regarding any real estate listings or rental properties!

~Century 21 Prestige Realty

Updating Our Website

We are currently in the middle of re-vamping our website, CedarCityInfo.Com. The website will contain a search engine for listings in our area, as well as a page regarding our rental listings.

Please bear with us during this time. We appreciate your patience.

~Century 21 Prestige Realty