housing market: Salt Lake Home Prices Forecast to Rise in 2017 - 12/06/16 06:31 PM
Now forecasting the housing market is  not something that is easy, and many people have come unstuck trying to do it. With that said Realtor.com have come out with their housing market forecast for next year and two Utah cities feature in the top 20. They forecast that the Salt Lake metro area will be the 16th best market in the U.S., with 6.66% price appreciation and a 4.67% increase in sales. Provo comes in at number 18, with a 5.16% price increase and a 5.84% increase in home sales.
In addition to the forecast they have also provided some potential trends … (1 comments)

housing market: Daybreak Annual 2015 Real Estate Market Update - 01/26/16 04:37 AM
The Daybreak housing market was somewhat of a mixed bag in 2015. While home sales saw strong gains with an increase of 32.73% (511 sales) and the time taken to put a home under contract dropped 38.33% to 37 days, this had little impact on the median sales price. The median sales price for 2015 increased just 2.76%, to stand at $298,000.
While home sales started off slow in 2015, they improved throughout the year and finished with a strong seller’s market (median sales price increased 7.41% in the 4th quarter). This was true for new home construction not just resale homes, … (0 comments)

housing market: Daybreak 1st Quarter 2014 Home Sales Data - 05/14/14 05:21 AM

The Daybreak housing market had a good start to the year showing strong home sales and sales prices. The median home price climbed an impressive 19.78% in the first quarter (when compared to the same time last year), with the new median home sales price standing at $305,450. While the number of homes sold remained flat (72 vs 74 last year), the time taken to sell a home dropped substantially, taking a median of 39 days (falling from 60 days).
2014 First Quarter Home Sales
Median Sold Price: $305,450 up 19.78%
Total Sales: 72 down 2.70%
Median Days on Market: … (0 comments)

housing market: Salt Lake County Home Prices Rebound in February 2014 - 03/10/14 01:07 AM


The median home price for single family homes rebounded in February hitting the highest level since August 2013. The median sales price for a single family home stood at $249,900, up 6.34% from the same time last year.  While sales prices did see a gain, the actual number of homes sold remained below last year’s number, with a total of 621 sales, a decline of 5.77%. Probably the most disturbing stat was that to do with Median Days on Market (how long it takes a home to sell), which has increase 70% over the last year, hitting the highest … (0 comments)

housing market: Salt Lake Market Softens Slightly in November 2013 - 12/05/13 08:05 AM
The Salt Lake County real estate market softened slightly in November 2013. The number of homes sold declined year on year, with 716 single family homes sold, down from 903 in Nov. 2012. Even with the decline in home sales the median home price climbed to $245,000, an 11.36% increase and the median price per square foot increased to $103.51 up 11.24%. One of the most telling indicators is the time taken to sell a home which increased to 38%, meaning that it takes over 30% longer to sell a home than the same time last year.
 
Single Family Homes … (0 comments)

housing market: Strong Housing Market Pushes Home Prices Up 20% - 03/21/13 06:51 AM
The strong Salt Lake Real Estate housing market pushed up home prices by 20% in February 2013 when compared with the same month in 2012. The market continues to be driven by a shortage of homes for sale, with home buyers facing tough competition that often results in multiples offers within a day of a listing hitting the market. New home construction is also doing well in this market, with developments raising prices throughout the Wasatch Front. First time home buyers seem to be having the hardest time, having to compete with investors who are either buying rental properties or flipping … (0 comments)

housing market: Strong Price Increases on Declining Home Sales - 02/11/13 04:16 AM
The home price for a Salt Lake County property remained constant in January 2013. The price has now stayed the same for four months in a row, standing at $205,000. When compared year on year the price has increased a very respectable 17.82%, and judging by the activity we have seen at the start of the month this trend may well continue.

While prices are up, the number of properties sold went down fractionally, falling 0.4% to 756. So what if going on? Why are prices going up when the number of homes sold are down? Well it’s all down to … (0 comments)

housing market: Salt Lake October 2012 Housing Market Update - 11/07/12 02:06 AM
The Salt Lake County Housing Market again produced strong home sales in October 2012. There were 1,129 homes sold in the month, which is an improvement of 9.19% over October 2011. Median Salt Lake home prices again finished above the $200,000 mark, with a new median home price of $205,000, a healthy increase of 10.81%. The median price per square foot rose to $93.34, the highest level seen since June 2010.
With the holidays approaching home inventory levels are currently very low, with many homes selling soon after they appear on the market. At a national level a recent report … (0 comments)

housing market: Salt Lake County Housing Market Continues to Improve in June 2012 - 07/18/12 01:24 AM
While the median home price showed a slight increase in June (up 1.81%), the statistic that stood out the most was the median days on market, which fell to the lowest level since August 2007. The median time taken to sell a home fell by 50% in the last 12 months, falling from 70 days in June 2011 to 35 days in June 2012. Needless to say this is a very encouraging sign, when homes sell faster this places upward pressure on prices and also encourages people who want to sell their home. Other data for the month showed that home … (0 comments)

housing market: May 2012 Sees Salt Lake Home Prices on the Rise - 06/18/12 05:05 AM
For the 4th month in a row the median home price for a Salt Lake County home increased, with the new median price standing at $199,950, up from last years $189,423. Over the last 4 months the median home price has risen 15.2%, with May 2012 home sales topping 1,202, the highest level since May 2010 when the home buyer tax credit was in place.
The median price per square foot is also up, standing at $89.62, up for 6 straight months, and the highest level seen since October 2010.  Homes are also selling faster, with the median time taken … (0 comments)

housing market: Salt Lake County Prices Up in April 2012 - 05/22/12 02:31 AM
Salt Lake Home Prices were on the rise in April 2012. For the second month in a row home prices went up, with the median home price rising 4.28% (when compared to April 2011 prices) to $195,000. If we look at month on month data, prices have actually increased for 3 months in a row. This encouraging home sales data may well point to the bottom on the market and even shows that prices are starting to rebound, especially in the more trendy areas like the Avenues, 9th and 9th and Sugarhouse.
In addition to prices going up, the number … (1 comments)

housing market: Builder Magazine Predicts Bright Future for Salt Lake Housing Market - 11/30/11 03:50 PM
A recent article in the Builder Magazine predicts a bright 2012 for the Salt Lake City Housing Market. They teamed up with Hanley Wood Market Intelligence to produce their list of healthiest housing markets in the United States. The list was compiled using various criteria including the local employment market, population growth, and income growth. The resulting list saw Salt Lake coming in at the 3rd healthiest housing market in the country, with a projected 4.7 percent price increase in 2012.
This data backs up what we have recently been seeing in the housing market, with this years home prices stabilizing, … (2 comments)

housing market: October Home Sales Up, Prices Down In Salt Lake County - 11/30/11 03:49 PM
OctoberSalt Lake County home sales were up from 737 in 2010 to 992 in 2011. While this is great news, in the same timeframe median prices decreased from $205,000 to $185,000, a fall of 9.76%. Compared to September 2011 prices actually saw a modest 3.93% increase. The median price per sq, ft. was $83.61 (compared to $83.88 last month and $91.37 last year).
The good news is that prices have remained pretty consistent since Feb 2011, when they hit $183,000. Another positive sign is that the time it takes to sell a home is also on the decline, falling from 82 … (0 comments)

housing market: Salt Lake City 7th Best Market for Real Estate Investors - 07/11/11 04:56 AM
Salt Lake was recently named 7th in the top 10 markets for real estate investors. The top 10 cities were:
1. Indianapolis-Carmel, Ind.2. Winchester, Va.-W.Va.3. Gainesville, Fla.4. Tucson, Ariz.5. Tallahassee, Fla.6. Hagerstown-Martinsburg, Md.-W.Va.7. Salt Lake City, Ut8. Richmond, Va.; 9. Gainesville, Ga.10. Winston-Salem, N.C.
The study by Inman News took into many criteria, including economic, housing and demographic data. The analysis considered markets with high affordability, low and dropping prices, a high market share of foreclosure sales, high population growth, an improving unemployment rate that is close to or better than the national average, high projected return on investment (ROI) over the next decade, and a low total cost of ownership-to-rent … (0 comments)

 
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Trela Bird

Realtor, Salt Lake City Utah

Salt Lake City, UT

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