real estate: Timing the Real Estate Market - 09/04/15 05:05 AM
If I have learned one thing about the real estate market, it’s that home prices, just like stock prices go down as well as up. The real estate market can be and has been notoriously volatile over the last few years, making the idea of trying to time the market difficult if not impossible.
So the question is why do so many people stress so much on trying to make sure that they buy at the right time, well everyone likes a bargain, and no one wants to pay for something that goes down in value.
First time home buyers stand to gain … (2 comments)

real estate: Salt Lake County Home Prices near Record Highs - 07/24/14 07:13 AM
 The second quarter 2014 saw the median home price for a Salt Lake County single family home get to within $1,000 of the record high of $256,000, which was last seen in 2007. The actual price appreciation for the quarter was pretty modest, increasing just 2%. This was on the back of declining home sales data where the number of single family home sales fell 9.53% to 3245 homes sold. The median time taken to put a home under contract was 26 days, which is a strong number and the sign of a good housing market.
 
A total of … (1 comments)

real estate: 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)

real estate: 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)

real estate: 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)

real estate: Salt Lake Housing Recovery Continues in November 2012 - 12/18/12 02:39 AM
The November 2012 median price per square ft. for a Salt Lake County Home hit the highest level seen since June 2010. The median price per square ft. continued its steady rise hitting $94.10, a very respectable rise of 14.52% over last Novembers figure.  The median home price of $205,000 was the same value seen in October 2012, but was 13.89% up on November 2011. This strong data is very encouraging for the housing market, and hopefully points the way to a continued recovery in 2013.
Median Home Price: $205,000Median Price Per Sq. Ft.: $94.10Total Homes Sold: 1,038Median Days on … (0 comments)

real estate: 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)

real estate: Salt Lake Real Estate Market Update August 2012 - 09/19/12 11:27 AM
The medium home price for a Salt Lake County home climbed above $200,000 for the first time since October 2010. The new median home price of $205,000 was sharply up from the $186,884 seen in August 2011. Strong home sales saw a total of 1,337 homes sold, the largest number of sales for over five years, going all the way back to June 2007. Homes were also selling faster taking a median of just 39 days to sell.
Median Home Price: $205,000 up 9.69%
Home Sales: 1,337 up 19.59%
Median Price Per Sq. Ft.: $93.18 up 13.33%
Median Days on … (0 comments)

real estate: 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)

real estate: 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)

real estate: Salt Lake County Home Prices Increase in March 2012 - 05/01/12 04:28 AM
For the first time in a long time Salt Lake County home prices increased in March 2012. The average home price for a Salt Lake County home in March 2012 stood at $218,674, up from $218,170 in March 2011, and $209,718 in Feb 2012. These modest price increases are the result of an improving market, with more homes selling, and a declining Salt Lake homes for sale inventory level.
Home sales stood at 1,037, the best March number since 2007. The average days on market declined to 112 (lower numbers mean homes are selling faster), the best number since May … (1 comments)

real estate: February 2012 Home Sales on the Rise - 03/15/12 12:44 PM
There were a total of 809 homes sold in Salt Lake County during February 2012. This number shows a strong increase when compared to Feb. 2011 when just 647 homes were sold. While Salt Lake home sales were up, the time taken to sell a home fell considerably, (another positive sign), with the average time taken to sell a home falling from 144 to 124 days. The average home price increased slightly from last month, climbing 1.23% to $209,743, but was down 2.76% when compared to Feb. 2011. 
Total Sales 809 Average Sale Price $209,743 Average Sq. Ft. 2,404 Price … (1 comments)

real estate: Jan. 2012 Salt Lake Market Update - 02/24/12 06:12 AM
There were a total of 730 Salt Lake County homes sold in Jan 2012, which is the highest level seen for 5 years. Those homes that are selling are also selling faster, with the average number of days taken to sell a home falling to 133 days (last Jan it was 144 days). The average price for homes sold in Salt Lake County did drop to $206,869, but this drop is in part due to a drop in the average size of homes sold (more smaller home sales = lower average price), which was 2,341 sq. feet (down from 2,579). In … (0 comments)

real estate: You Think the Real Estate Market is Bad in the U.S. - 10/30/08 03:11 PM
I know that the real estate market is not exactly booming in the U.S., but I was reading an article the other day about the market in the U.K. that really shocked me.
Apparently, mortgage loans dropped 95% between July 2008, and August 2008. That's not a misprint, they dropped 95% in a single month. It gets even scarier when you look deeper into the figures. Home loans are down 98% year on year, with only £143 million in new loans in August. To give you some background the U.K. has a population of approximately 61 million people, and the median … (0 comments)

real estate: Home Prices in Salt Lake County Take Off - 08/10/06 04:23 PM
After years of slow home price growth Salt Lake City is finally catching up with the rest of the nation. The median home price in the 2nd quarter 2006 was $220,000 which is up over 20% on the same time in 2005. For detailed price info see http://www.bestsaltlakehomes.com/PageManager/Default.aspx/PageID=1881640&NF=1 or a graphics version can be seen at http://www.greatsaltlakecityrealestate.com/Homeprices/home-prices-2Q-2006.html  The questiion is how long can it last? Some of the growth has been fueled by investors selling properties in other areas and investing in Utah. Now those other areas are starting to slow and its more difficult for them to sell. At least the fed kept interest rates … (0 comments)

 
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Trela Bird

Realtor, Salt Lake City Utah

Salt Lake City, UT

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