Daybreak, Utah News

I am constantly asked, "Is it a Buyer's market? or a Seller's market?"

We are in a unique situation right now so I can honestly answer, BOTH!

Some areas are in high demand and have low inventory. That is the definition of a Seller's market. An article in the LA Times explains how low supply is causing "fierce competition" in high demand areas. This is great news for sellers. If you have a home in the right place, and list for the right price, you could have a bidding war on your property. With higher competition, sellers can get top dollar for their home. Based on recent statistics these Hot Spots are a "seller's market".
 
Hot Spots to Sell (sellers market)
 
#1 - Saratoga Springs (84045)  $350K - $400K
Your chance of selling?     Homes for Sale
 
#2 - Salt Lake City (84109)     $250K - $300K
Your chance of selling?     Homes for sale
 
#3 - Salt Lake City (84103)     $200K - $250K
Your chance of selling?     Homes for sale
 
#4 - Sandy (84093)     $100K - $200K
Your chance of selling?     Homes for sale
 
#5 - Salt Lake City (84109)     $350K - $400K
Your chance of selling?     Homes for sale
 
These are only the top 5 Hot Spots for sellers. Contact me to see if your home is in a seller's market. We'll find out what your home is worth, and what the chances are of selling this year.

On the flip side there are some areas with low demand and high inventory. Typically these are high-end homes, but not always. Incredibly low interest rates make these homes more affordable than ever. If you're looking at purchasing a higher-end home, it is definitely a buyer's market in these areas.

Hot Spots to Buy (buyers market)
 
#1 - Lehi (84043)  $500K - $750K
Inventory Statistics     Homes for Sale
 
#2 - High priced homes ($750K+)
Provo/Sundance (84604)        Inventory Statistics     Homes for Sale
Bountiful (84010)                   Inventory Statistics     Homes for Sale
Holladay/Brighton (84121)     Inventory Statistics     Homes for Sale
Alpine (84004)                       Inventory Statistics     Homes for Sale
 
#3 - Orem (84058)  $300K - $350K
Inventory Statistics     Homes for Sale
 
#4 - Salt Lake City (84101)     $250K - $300K
Inventory Statistics     Homes for Sale
 
#5 - Santaquin (84655)     $200K - $250K
Inventory Staistics     Homes for Sale

If your looking to buy a home I can help you determine where the best deals are. Once we find the home you're looking for, I'll help you write a competitive offer, so you don't lose the home of your dreams.
 
See all statistics from September 2012