Our inventory continues to drop. We are now below 600 active homes in SL county under 700,000. The last time we were this low was June 2022.
We are experiences very different circumstances from June 2022. Buyers have been steadily buying inventory since the new year but new listings have been sparse. This could be seasonal, since April and May seem to be the highest listing months and June, July are the biggest closing months.
Buyer sentiment is building but what about seller sentiment? Are too many sellers refusing to come to grips that our market has shifted and they will be getting a lower price?
You know what determines the value of a house? What someone is willing to pay for it. Period. The market always wins.
So the dance between sellers and buyers continues, but to a slow song like "Forever Young" by Alphaville......
Our inventory continues to drop. We are now below 600 active homes in SL county under 700,000. The last time we were this low was June 2022.
We are experiences very different circumstances from June 2022. Buyers have been steadily buying inventory since the new year but new listings have been sparse. This could be seasonal, since April and May seem to be the highest listing months and June, July are the biggest closing months.
Buyer sentiment is building but what about seller sentiment? Are too many sellers refusing to come to grips that our market has shifted and they will be getting a lower price?
You know what determines the value of a house? What someone is willing to pay for it. Period. The market always wins.
So the dance between sellers and buyers continues, but to a slow song like "Forever Young" by Alphaville......
Play Your Game with Alan WalkerMarket of the Moment - 3/17/2023
Market of the Moment - 3/17/2023: We are hovering around 500 homes active on the market under 700,000. This has been the norm for the past month. Buyers are buying, as proven by solds increasing week over week. As we creep towards April and spring (which in Utah is most likely late May), w...
Play Your Game with Alan WalkerMarket of the Moment - 4/28/2023
We've seen a small bump in inventory, though we are still much lower than we were in the winter.Buyer sentiment has improved, more showings are taking...
Play Your Game with Alan WalkerMarch 2022 vs. March 2023
We saw a decline in median home price for single family homes in Salt Lake County of 9% year over year for March. The last half of last year, we saw a decrease of 11.7%, so we've rebounded from the bottom at $561,000 in December of last year. Maybe in June, when there's no more snow, we'll s...
Play Your Game with Alan WalkerMarket of the Moment - 3/17/2023
Market of the Moment - 3/17/2023: We are hovering around 500 homes active on the market under 700,000. This has been the norm for the past month. Buyers are buying, as proven by solds increasing week over week. As we creep towards April and spring (which in Utah is most likely late May), w...
Play Your Game with Alan WalkerMarket of the Moment - 4/28/2023
We've seen a small bump in inventory, though we are still much lower than we were in the winter.Buyer sentiment has improved, more showings are taking...
Play Your Game with Alan WalkerMarch 2022 vs. March 2023
We saw a decline in median home price for single family homes in Salt Lake County of 9% year over year for March. The last half of last year, we saw a decrease of 11.7%, so we've rebounded from the bottom at $561,000 in December of last year. Maybe in June, when there's no more snow, we'll s...
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