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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Our inventory is expanding, ever so slightly with over 600 homes on the market in Salt Lake County under 700k. We haven't seen this many homes on the market since February. Last June we were at 800.
Price reductions and expired listings are trending down, which indicates more alignment between sellers' expectations and buyers' willingness to meet them on price.
The most interesting is how quickly homes are going under contract across the board. We aren't seeing single digit, but we are hovering around 2-3 weeks for all price points. A big improvement over the 30-40 days on market we were seeing earlier this year.
Our lack of inventory continues to drive prices up, even in a higher interest-rate market. Make no mistake though, once interest rates drop, prices will soar even higher. Its more important to be in the market than wait for the perfect moment to jump in.
Our inventory is expanding, ever so slightly with over 600 homes on the market in Salt Lake County under 700k. We haven't seen this many homes on the market since February. Last June we were at 800.
Price reductions and expired listings are trending down, which indicates more alignment between sellers' expectations and buyers' willingness to meet them on price.
The most interesting is how quickly homes are going under contract across the board. We aren't seeing single digit, but we are hovering around 2-3 weeks for all price points. A big improvement over the 30-40 days on market we were seeing earlier this year.
Our lack of inventory continues to drive prices up, even in a higher interest-rate market. Make no mistake though, once interest rates drop, prices will soar even higher. Its more important to be in the market than wait for the perfect moment to jump in.
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