No Bubble Here!! SLC Home Sales Still Strong
The Salt Lake Tribune published the " First quarter Wasatch Front Home Prices " article Saturday and the content is well worth reviewing. In case you missed it, the basic story is Good News.
The Wasatch front Real Estate market has cooled only a little bit from the record setting pace of last year, when Utah home appreciation was higher than that of any other state.
Home values are still climbing in Salt Lake County , with first quarter sales increasing nearly 20% over the home sales logged in the first 3 months of last year.
Sellers wont wait long for their house or condo to sell either. Homes average only one more day on the market (41 to 40 ) than last years first quarter.
The bad news is, if you can call it that, is that the number of actual sales was down for the quarter by 4%. That's not exactly what you would call earth shaking, but enough of a drop to let us all know that the Salt Lake City Real Estate market is still worth keeping an eye on.
Bottom Line...If you are a Seller, pay attention to detail, price your home properly, and be prepared to wait awhile if you are asking more than $300,000. If you are a Buyer, hire a Real Estate Agent that knows the territory, and where the good buys are.
In the next few days I'll be looking at individual numbers for West Jordan, South Jordan, Murray, and Riverton Ut. and sharing them with you. If you have any other area of interest and would like me to publish those stats, give me a call, e-mail me or call your personal agent.