Скачать или смотреть 2017 Market Review and January Market update

Hello everyone, this is kaytlin hughes with high road properties! Happy New Year! Today we are giving you the current market data Salt Lake county and review what happened in 2017.

Last year, listing had an average of 14 days on market. That is down slightly from 2016. Which means home are going under contract faster. In 2017 fewer homes were sold than the previous year. This was mostly due to the lack of inventory, not as many properties listed, not as many properties sold. And that story is going to continue into 2018. In Salt Lake County last year we saw a 10.1% increase in median home sales price from 2016. 2017 caped out with a median home sales price of $291,780 compared to 265,000. This is huge! Obviously great for sellers, and buyers we don’t see it slowing down so the sooner your buy the more appreciation you will receive. December list to sell ratio was at 98%. This means homes sold just barely below their original list price. List to sell ratios peaked in April of 2017 with homes selling 1% higher than the original list price, so a 101% list to sell ration. Highest prices were in actually seen in November 2017 showing that that fall can be just as good of a time to sell a home.

Alright now welcome to 2018! We are only a 10 days into the new year but we are already able to pull some fun data. Low inventory continues to be the story! Our YTD sales are down 31% compared to the first week of 2017. We kicked off 2017 with median home sales price at 278,500 and this year we are starting of 2018 with a median home sale price of 300k. We currently have 2329 active listings and the average days on market are around 26. Twenty six days on market hints towards a slower market which we are used to seeing in the winter month here in salt lake county. So buyers right now may be a great time to find home as there are fewer buyers out to compete with and homes are sitting just a little longer than they will come this spring. In general, 2018 is already looking to be a healthy market. We are expecting an increase in home sales prices over the next few months. Sellers this spring is looking like a great time to sell. If you have been on the fence, it is time to get a market analysis of your home. If you are looking for buyer consultation or a seller market analysis lets get that scheduled.

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