Kanab Real Estate Overview: May 2024 Insights

Quick Market Recap

This May in Kanab, six homes were sold, indicating a steady interest in local properties. The median sold home featured three bedrooms, two baths, and was approximately 1,793 square feet, priced at $425,000—or $237 per square foot.

Current Market Landscape

With 64 homes currently on the market and 10.66 months of inventory, Kanab has transitioned into a buyer’s market. This shift suggests that buyers may have more leverage during negotiations, and sellers might need to consider concessions to attract offers.

Interest Rates and Buyer Activity

Interest rates have seen a slight increase to 7.03% for a 30-year fixed mortgage, impacting buying power. Buyers should consider entering the market now before potential further increases, while sellers should adjust expectations and be prepared for tougher negotiations.

Looking to buy in Kanab? Look no more! I've got plenty of options for you!

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Post a Comment