Real Estate in Midway
Everywhere you go at this time of year the fragrance of flowering choke cherries fills the air; from our patio, to the post office, to Wasatch State Park Lake Course (one of five public access 18 hole courses in Midway, including Crater Springs at The Homestead) Look for these trees with the leaves that start the season green and then turn a mahogany color as the summer progresses
This is also the time of year when the snow line starts to recede back up the face of Timpanogas. What a lovely sight to see as you look across the greening pastures. In the distance you can hear the whistle from the Heber Creeper as it chugs along the tracks beside Deer Creek Reservoir, and Real Estate in Midway.
Other signs of Spring include the return of Midway cabin owners who arrive to uncover furniture, turn on water and return chairs and tables to decks to their Real Estate in Midway.
We have also started to see more For Sale signs at this time of year. This year the INVENTORY for Real Estate in Midway is considerably reduced from the previous several years; a good indication that the Real Estate in Midway market is regaining momentum.
In 2nd quarter 2011 there were 69 properties listed compared to 33 in 1st quarter 2013. The bulk of properties listed are in the price range from $250,000-$399,000.
The hottest price range for sales is under $150,000. Homes listed in that price range sell very fast and frequently with multiple offers as buyers take advantage of renovation financing programs or pay cash to acquire older homes on larger lots in established neighborhoods.
Sales volume remains high up to about $400,000. Not so long ago, it was unusual for homes in the Midway/Heber Valley in the $1million price to be available. Recently we’ve seen more than a dozen sell real estate in Midway. However, inventory of homes over $800,000 is less than a 6 month supply.
MEDIAN PRICE is recovering too. Sales of single family homes in first quarter 2011 median SOLD price was $126,000; at the end of first quarter 2012 median SOLD price was $239,000 and in 2013 median SOLD price was $400,000.
It’s time to check out the Real Estate in Midway/Heber Valley. GRANNY’s reopened for the summer on May 18th. It is officially Spring.