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 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 WalkerProfit First for Real Estate Investors
Make your business work for you, not you work for it
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 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 WalkerProfit First for Real Estate Investors
Make your business work for you, not you work for it
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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 place. Some mentions of multiple offers happening again.
Sellers are still hesitant even though our median home price sold has been increasing the last 3 months. We seemed to have reached our bottom in December 2022. Many are still finding it difficult to reconcile "what we could have gotten last year" to what the market currently values.
Have you ever noticed that you never win when you play that game? There's a strange psychological game we play with ourselves called "mental accounting". We pretend that what we could have today is better or worse compared to some point in the past, even though we weren't selling in the past so it wasn't actually real money.
Even as we approach 3 months of inventory, we are still in a sellers market. That doesn't mean sellers get anything they want, it means that sellers can expect a lot of interest in their home IF they use an agent that lists it properly. The "Make Me Move" Zillow price game is over.
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 place. Some mentions of multiple offers happening again.
Sellers are still hesitant even though our median home price sold has been increasing the last 3 months. We seemed to have reached our bottom in December 2022. Many are still finding it difficult to reconcile "what we could have gotten last year" to what the market currently values.
Have you ever noticed that you never win when you play that game? There's a strange psychological game we play with ourselves called "mental accounting". We pretend that what we could have today is better or worse compared to some point in the past, even though we weren't selling in the past so it wasn't actually real money.
Even as we approach 3 months of inventory, we are still in a sellers market. That doesn't mean sellers get anything they want, it means that sellers can expect a lot of interest in their home IF they use an agent that lists it properly. The "Make Me Move" Zillow price game is over.
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