The New Year is a season for setting resolutions and planning for the future. To set realistic and achievable goals you must review the past, evaluate the present, and then plan for the future. It is my goal to provide you access to the resources you need to accomplish your goals in Real Estate.
Review the Past
Year to Year Home Sales Statistics
Year to year the housing market follows seasonal trends. Comparing the number of homes sold each month this year to previous years is valuable in predicting future months. This resource also provides a total number of homes sold for the entire year. This shows you where the current year is for total homes sold compared to the previous 3 years. Real estate is very local so the statistics are broken down by Salt Lake, Utah, Davis, Weber, and Tooele Counties. The Real Estate market is more than how many homes sell, there are supply and demand variables to consider. I compile this information into my current market statistics. I break down the supply (inventory) by current active homes (total number of homes for sale) and new listings for the month. We determine demand by the number of homes going under contract. Because some transactions take longer than others I break down the Under Contracts by new contracts in the last 30 days and all current homes under contract.
Evaluate the Present
The Crystal Ball compiles all of the statistics and creates a report for your home. The crystal ball makes predictions about the sellability of your home. It also arms you with valuable market information such as the number of other homes for sale in your area, recent homes sold, and number of homes under contract. It also offers an estimate of how long it will take to sell your home based on current inventory and demand. The Market Snapshot is another useful tool for evaluating your home. It also gives you a sneak peak into an area you may be interested in moving to. The snapshot shows local homes for sale and homes that have sold on a map so you can see exactly where the action is. It shows the average days on market, price range, and sales prices compared to list price for sold homes. The Market Snapshot can send you automatic updates each month.
Plan for the Future
Every month I crunch the numbers and find the top 5 ares and price ranges for real estate activity. If you want to buy into a stable area, or looking to sell your home for top dollar, keep a close eye on the Hot Spots. Timing is key and knowing when to become involved in the market makes a big difference in how successful you will be.
This information is available to get you started and excited about your real estate opportunities. However, you will still need to consult with an expert to interpret the data. Together we can ensure that your goals in real estate are achieved. You can contact me at Homes@utahdave.com or call toll-free 888-345-5682 to schedule an appointment for an evaluation.
The Year has begun, it is time to act.
What real estate resolutions have you made?
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