Small decrease in Home Sales... Yesterdays News!!!
This post probably won't interest most folks, but I had to write it just in case someone out there was making a Real Estate decision based on this mornings Salt Lake tribune article. (Sept.12,2007). It's not that the article wasn't true, It probably was. The problem is, the information about trends in the housing market in Salt lake County was almost a month and a half old.
If your making a decisions about Buying or selling a Condominium in West Jordan, or Taylorsville, or a Home in South Jordan, or need to have some facts to take to your lender about the delinquent mortgage on your Murray Town Home, That won't get it !!! You need to days information, TODAY.!!!
The newspaper article quoted the Salt Lake Board of Realtors who stated "in the second quarter, 4 percent fewer homes sold in Salt Lake County, compared with the same three months in 2006". "Despite the dip, selling prices were still up double digits". Even though the reporter indicated prices aren't likely to continue, one call could have cleaned up the article substantially. A call to a local Realtor with access to the Wasatch Front Regional MLS would have provided this more current information.
Salt Lake County Home Sales: August 2006:
Seventeen hundred seventy five homes were sold with an ave. price per home of $265,723, after having been on the market for 27 days.
Salt Lake County Home Sales: August 2007
Twelve hundred forty two homes were sold at an ave. price per home of $290,730, after having been on the market for 36 days.
Conclusion:
Homes sold decreased in number by 533 which shows a decrease in home sales of 30%.( that's more than 4%).
Average dollar increase per house was $25,002, a more modest decrease of 9.4%. This is more in keeping with anticipated leveling off.
While days that homes remain on the market only show an increase of 9 days, that represents a 33% swing.
The point is folks, don't settle for information that's not current, real, and accurate. Use your Realtor. They can supply you with every thing you need to know about making the correct Real Estate decision. If you don't have an agent you probably need one. I'd like to apply. Call me 801-567-0946.