How About The Housing Inventory In Tooele County

Ever wonder if the Tooele housing inventory impacts sales? I have, and maybe you need to know if you are buying or selling a home in our area.

Yesterday I posted some numbers on how the lack of listed homes was impacting sales nationally . They were provided by my friends @ KCM. I thought it would be fun to see how these same numbers lined up with actual numbers in our market in Tooele UT. Since all real estate is local it will be helpful to see how we are doing and how lack of houses to sell can dictate price and terms.

Take a look at the graphic about real estate nationally and then scroll down to see what we found out about the inventory of homes in Tooele.

Lack of Existing Home Sales Inventory Impacting Sales [INFOGRAPHIC]

Those were national numbers and indicate how things are going across the country. That information is not very helpful unless you are a large invester with properties scattered among the states or regions of interest.

But were local and need to know what is happening in our own backyard.

Here is what we found out using last year against this years numbers.

• Inventory (listings of homes for sale) Last Year: over 11,600; This year 10,200
• Decrease of over 14%
• Higher than national average
• Average home sales per day in Tooele Utah is 4 houses or condominiums
• Average price increase of Tooele home is $29,900
• Increase from last year of about 16%
• Number of homes sold: same as last year
• Days on market this year 18, last year 38
• There are only 214 homes or condominiums listed for sale in Tooele County today 10/3/16

Looks like a pretty good market for sellers in Tooele.

Buyers?  Not so much.

What is pretty clear is that the scarcity of good housing inventory could be having a tremendous impact on home prices and days on market (number of days a house is listed before it sells).

So, if you are listing a home, expect to get a good price and start receiving offers quickly. Don’t be in a hurry to accept any offer that comes along because you are afraid you wont get another.

If you are buying, you had better have an agent that knows where the good buys are and knows how to negotiate.

I’d like to apply for that job. Give me a call; Berna Sloan 435-840-5029. I know how the Tooele housing inventory impacts sales, and how we need to present an offer that can be accepted.