WOW! In the 35 years I have been a REALTOR in Iron County, this is the first time I have seen our median price rise to $200,000! That is up 8.7% Year to Date (YTD) since last year! Closed sales have risen 19%! What a fantastic real estate market, and it promises to continue. See attached latest published Utah Association of REALTORS (UAR) s Wages are up, too, tatistics for more details and for information on all counties in Utah.
Local and National real estate markets are alive and strong! In the July/August REALTOR magazine, Lawrence Yun, NAR Chief Economist informs, "The economy is solidly advancing." "Employment, likewise, is strong;" "Wages are up, too, by 2.8 percent over the last 12 months." He also said that the unemployment rate is "down to 3.8 percent, the lowest rate in 50 years."
Here is the question Yun wonders, "And yet home sales are down 1 percent from this time last year, and homebuyer sentiment is tepid." "What's behind the mismatch? He says, "For many potential buyers, homes are just too expensive." Yun suggests more construction is needed and that perhaps modular homes or smaller lots could bring on more affordable housing.
More inventory is still the answer to what is needed! When 3 buyers make offers on the same home, top dollar is paid to win the home and only one closed sale results instead of 3. Rising interest rates are not helping the current real estate market at all, but they are still very low when compared to past double digit rates. The current market is still positive for Buying and Selling Real Estate in my opinion.
Aggressive marketing is a must in the current real estate market, and your Matt Bagley Team's top marketing works! I don't know of anyone that advertises more aggressively! Our online advertising goes all over the nation and worldwide! It is global and we use top technology! Our homes and properties are on all 3 major multiple list services (MLSs) in Utah! We market to both buyers and to REALTORS. We will be the reason your home or property sells no matter which REALTOR your buyer calls! We work hard for you and we will continue to do so. We try to have an ad wherever your buyer might look including on-line!
Do you want your home or property to attract the very next buyer? Call your Matt Bagley Team at 435-865-1019 at ERA Realty Center today for your free real estate consultation. We can help you price to get top dollar quickly, so ask for your free market overview today! Your Team can also help you stage and showcase your home to be charming for your pictures that go worldwide and also for your home showings to attract your top dollar offer! You can also email us at email@example.com. Call or text Matt Bagley at 435-590-8788, Jennifer Corral at 435-559-0366 and Janet Naisbitt-Bagley at 435-559-7772. This real estate update was written by Janet Naisbitt-Bagley.