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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Market of the Moment - 3/31/2023:
Our inventory continues to plummet.
An interesting thing is happening. The sellers and their agents seem to be realizing that prices are down so houses are going under contract a bit faster but at or below list.
I recently got a buyer under contract and we locked up a home the first day it was on the market with an offer 50k below asking.
Sellers aren't holding out as long as they used to.
In looking through my records, we were at 124 active homes on the market in February of 2022. So while 444 active homes seems low, we've still got 3.5x the inventory we did at the beginning of 2022.
A prolonged winter usually stalls the beginning of house hunting season. I just keep asking myself, will people sell or will they put off selling hoping they'll get a lower interest rate.
One thing is for sure, we are not likely to see sub-3% interest rates on primary mortgages again within our lifetimes.
#utahrealestate #utahrealtor #utahrealestateagent
Market of the Moment - 3/31/2023:
Our inventory continues to plummet.
An interesting thing is happening. The sellers and their agents seem to be realizing that prices are down so houses are going under contract a bit faster but at or below list.
I recently got a buyer under contract and we locked up a home the first day it was on the market with an offer 50k below asking.
Sellers aren't holding out as long as they used to.
In looking through my records, we were at 124 active homes on the market in February of 2022. So while 444 active homes seems low, we've still got 3.5x the inventory we did at the beginning of 2022.
A prolonged winter usually stalls the beginning of house hunting season. I just keep asking myself, will people sell or will they put off selling hoping they'll get a lower interest rate.
One thing is for sure, we are not likely to see sub-3% interest rates on primary mortgages again within our lifetimes.
#utahrealestate #utahrealtor #utahrealestateagent
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