Inventory Going Going...Down..Vernal, Utah

By
Real Estate Agent with New Star Real Estate

About a year and a half ago the daily inventory for the Vernal, Utah Area, Uintah County, was between 50 to 60 residential properties a day.

Since then we slowly reached close to 350 properties each day.

I am glad to report that during the last month we have been getting closer to 250 per day.  Today we are at 285 with a fair number of those being "To Be Built".

We  still need homes in the lower ranges and the higher priced homes starting at about $250,000 are being taken up with builders lowering their prices and giving incentives.  With so much inventory in that price range builders are not bringing many new speculation homes into the market.

We have  foreclosures and short sales but the listings are not dominated by them as  in some areas of the country.  Other areas have the majority of distressed properties and a qualified buyer is a rare commodity.  Uintah County has workers moving in and a need for homes and rentals.  Our outlook is positive.

 

Comments (3)

Becky Behrens
Coldwell Banker, Homeowners Realty - Grand Junction, CO

We are in the same boat over here in Grand Junction, although we are starting to see some lower price ranges. Unfortunately, our inventory hasn't went down, yet. Hopefully soon!

Aug 04, 2008 03:48 AM
Julie Kippen
Vernal, UT

There are 274 homes today counting condos and townhouses. The existing only category is 186. I heard more people are coming in and I heard of a few more businesses coming this spring.

Aug 19, 2008 03:16 AM
Carol Judd
New Star Real Estate - Vernal, UT
Vernal Utah Real Estate

Becky, good luck over in Grand Junction

Julie, thanks for the update.  There is nothing very discouraging in our market yet

Aug 22, 2008 03:37 AM