January 2024 Kanab Real Estate Round Up: Market Softens, Spring Surge Ahead!
As the first month of 2024 winds down, we're taking a close look at the Kanab real estate market. Karen Heet of Love Realty Utah is here to break down the latest trends and what they mean for you.
Market at a Glance
January in Kanab has seen a natural ebb in the market, with a noted softening in prices. A total of three homes were sold, with the days on the market stretching to 166. While this may sound like a slowdown, it's a seasonal breather that preludes the anticipated spring surge. The median sales price stands firm at $390,000, holding at 96% of the list-to-sales price ratio.
Interest Rates Update
Interest rates have seen a minor uptick to 6.63%, remaining attractive compared to last year's highs. This slight shift suggests a market ripe for opportunity, especially for those eyeing long-term investments.
Active Listings & Predictions
With 36 active listings and nine contracts in the past month, the Kanab market is poised for action. As we approach the vibrant spring season, forecasts point to a robust year ahead for real estate.
As we look towards the bustling spring market, having a knowledgeable guide like Karen Heet can make all the difference. With tailored advice and strategic planning, you'll be ready to make your move in Kanab's real estate scene.