South Jordan homes Values: Today's Value and Next Year's Forecast

What not to ask when selling your home: "What is my home worth?" or "What will my home appraise for?"  This is not the right way to understand the value of your home. An appraisal is an estimate of value or to put it more simply; one person's opinion of the value of your home. As we all know that opinion is not necessarily fact, it's important to know that there is no such thing as an absolute number that your home is worth

Here's what happened to one seller of mine. The buyer's appraisal of their home came in $70,000 below list price. Yikes! After hiring 3 different appraisers on the same house all 3 came back with very different "opinions" of value. After 2 weeks of convincing the banks, the buyers, and the REALTORS, I was able to sell the home for the higher list price. We got what was negotiated and not what the home 'appraised for'.

Here is what you should be asking: "How can I maximize what my home will sell for?" or "Who is the right person to help me maximize what my home will sell for?" There are too many factors to list that need to be considered on what your home will sell for. Maximizing exposure and having an expert negotiator are critical in getting the top dollar possible for your home. I can show you examples of the exact same home getting very different sales price that were listed at the same time all because of a good negotiator. 

So what is happening in South Jordan's market? Since everyone talks about the 2006 and 2007 market let's compare it to today's market. In 2006 there were 532 homes that sold in South Jordan. (From the first of the year until Sept 1st so we are comparing year to date sales). Looking at 2007 there were 481 homes sold YTD. Last year, in 2014, there were 735 homes sold YTD! The great reveal: this year, 2015? A whopping 960 homes have sold since the first of the year. This is a 30% increase in home sales over the last year alone! The increase in sales has caused a decrease of inventory, down nearly 20%. The average sales price for the month of August has gone up nearly 4.5% over the last year from $332,000 to $347,000.  On average, 59 days or about 2 months is how long it takes for a home to sell. The market is on track to jump another 3% above the average sales price over the next year.

Check out what other homes are selling for near your house at goBEsold.com. Or call Utah Dave, your local expert real estate broker who has listed and sold more South Jordan homes than any other agent. He will give you a list of things that need to happen to maximize selling your home for top dollar for free. 801-966-4000