The real estate market in Iron County, Utah has been heating up in recent months, and April 2023 was no exception. According to the latest market stats from InWest Title, home sales and prices continued to rise, while inventory remained tight.
In April 2023, a total of 150 homes were sold in Iron County, which represents a 25% increase compared to the same month last year. The median sales price also rose by 12% to reach $325,000. This suggests that the demand for homes in Iron County remains strong, despite the ongoing economic uncertainty.
Meanwhile, the number of homes for sale in Iron County continued to shrink, with just 200 active listings in April 2023. This is a 20% decrease from the previous year, and indicates that buyers are facing a highly competitive market with limited options.
The tight inventory and high demand have also led to a faster pace of sales, with homes spending an average of just 20 days on the market before being sold. This is down from 30 days in April 2022, and suggests that buyers are eager to snap up available properties quickly.
Overall, the April 2023 real estate market stats for Iron County paint a picture of a dynamic and competitive market. Buyers are facing a limited supply of homes, which is driving up prices and leading to faster sales. However, for sellers, the current market conditions offer an excellent opportunity to get top dollar for their properties.