Are we going up or down in Utah Real Estate?
Lets look at the numbers for Salt Lake County.
Sales in 2007
Oct 1033 November 927 December 803 Jan 2008 645 Feb 2008 766
Sales in 2008
Oct 846 November 592 December 687 Jan 2009 Predicted: 575 Feb 2009 Predicted: 700
So what happened year over year?
Oct 18% decrease November 36% decrease December 14% decrease Jan Predicted decrease 10% Feb Predicted decrease 8% Decrease.
What can we look forward too?
Our sales numbers have hit bottom. We had huge decreases and there isnt a way for it to decrease anymore. And actually we are receiving multiple offers on many homes. Our number of actives in Salt Lake have decreased to 7500. Last year there were 10,500 homes sold. So at the current rate we should sell every home in 9 months.
The numbers of actives are down. We are seeing our numbers taper off for decreases. We are seeing increase activity in offers and buyers while it is only January. That means March and April possibly will increase from last year or be relatively close. There are home prices as low as $55 a square foot selling within one hour. With this comes good news..........
This year is our bottom. This is the year of buying real estate in Utah! To search for homes go to http://www.utahdave.com
About the Author:
Utah Dave - Daybreak Neighboorhood Expert and Local Resident
My friends nicknamed me Utah Dave in high school because they said it didn't matter where we went in Utah, I would know how to get there and who we needed to talk to. The name sticks today as UtahDave has formed into a professional real estate network of Neighborhood Experts all across the state. I live in Daybreak with my wife and 4 amazing children. I enjoy dancing (which is how I met my wife Dawn) as well as traveling, coaching, and learning.
