Most people have heard home listings and sales increase in the
spring. But that's not true this year through March. The number
of sales in the county dropped 19% compared to the last quarter of
2009. In Salt Lake City proper, the number of new listings coming
on the market dropped by over 50%. Now there's a market to keep an
eye on."
Sure, home prices might be down from last year at the same time.
The real news is in what is happening right now, not last year.
Some of the trends in Salt Lake proper are clearly reversing as we
speak."
According to the numbers supplied by the WFRMLS, the average home
price is up 56% in 84102. Now, who really believes that? The truth
is, there just weren't enough sales to come up with a good 'average
home value.' Statistics don't lie, but this time they're certainly
not painting an accurate picture of the market in 84102."
Some zip codes simply don't have enough sales in the last quarter.
It's impossible to get an accurate representation of the market from
just 13 home sales."
County-wide, the average single family home sale price is up over
the last quarter of 2008. I've been waiting a long time to say that!"
The number of new listings is dropping. This is good news. With
24% fewer new listings than this time last year, there will be less
to choose from. If this continues, Salt Lake home sellers could
start to level the playing field."
County-wide, the average single family home sale is $37,655 more
than it was in 2006. Even with the slight downturn, we did fairly
well. That's a 16% increase. Overall, we are very fortunate to
live where we do right now."
We still have a way to go, but trends are reversing. New listings
have slowed down to 2006 levels. But sales activity is still at the
lowest its been in a long while. There will still be time to go out
and find some great deals in the meantime."
ALL OF THESE ARE SOURCED FROM THE QUARTERLY XL COMPS DIRECTLY FROM
THE WFRMLS AND COMPILED FOR THE FANTIS GROUP REAL ESTATE AND SALTYHOMES.COM.
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4 comments:
Good news is always great to share. I'm very encouraged and look for even more good news on the horizon. Thanks for sharing.
Joel Carson
Prudential Utah Real Estate
Anytime Joel. Thanks for visiting my blog. To check out more great home deals in the Salt Lake City area visit http://www.saltyhomes.com
Keep focusing on this article to see what will happen the next!! Obviously expected a good news.
Boise real estate
It's good information for home sellers in Salt Lake, and I will go to check on Google because there is lots of information and good suggestions for buying home there.
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