Sellers and buyers should take note of the changing market conditions in and around Salt Lake County, Utah. The last three weekends I have noticed an increase in buyer activity while showing homes. Homes that are move-in ready and not short sales are selling in one or two days. I have seen multiple offer situations on many of the new property listings. Prices have had almost four years to DECREASE from the highs. Don’t expect to low ball or get a large discount off of the list price if the home is priced near comparable sales. Sellers are getting the listing price or higher right out the gate in many Utah neighborhoods. Inventory is at 7 months or less in many neighborhoods (it used to be 11 months). Homes that need updating or fixing up are taking a little bit longer to sell, but continue to sell at stable prices. Short sales are approx. 25% of all listings as a whole in Utah, yet make up more than 67% of active listings in some zip codes like West Jordan (up to $180,000).
If you see a home that you like, make a move. Are you a Utah home seller that is wondering if 2012 is the year to sell? Get your home or property listed for sale before the rush of new listings is put on the local market. The less competition you have, the better price you can get for your Utah property.
Contact me to find out what your home might sell for, local market conditions in your zip code, or if you want to start your home search and buy in 2012. Brandon (801) 999-8084