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.
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