Yes ! New Homes & Condos Do Count !!!
Yes, the statistics on Homes|Condos sold and listed in Salt Lake County last week would have been more accurate, (therefor more meaningful) If I had either included New Home Sales across the Salt Lake Valley, or at least explained better that those numbers were not available to us.
Many of you were so kind, (if not gentle) to point out that Chris in the Tooele Homes office did a much better job of explaining the problem. I will reluctantly agree; however since I am hoping to provide useful information to existing home buyers, sellers and Investors, I didn't think new construction was of much interest. I was wrong. AGAIN!!!!!
With that in mind, I am reporting that many of the New Home Builders do NOT report new construction sales. Further, large subdivisions like Daybreak in South Jordan, or Rosecrest in Herriman will not be reporting all of their Home or Condominium sales. The same thing will be true in a number of P.U.Ds in West Jordan. I imagine that over 100 Town homes in West Jordan will go unreported on the MLS this year.
Those of you that wrote to suggest that New Homes were indeed your competition were right. In a normal market this is generally not true, as the price differential segregates the market by affordability. In this market today and I am afraid for months to come builders will be willing to trade profit for cash flow, and the separation of product will be vague at best. I predict many New Homes will be sold at below cost.
There are ways however to market existing homes under these circumstances, and If you need to sell your house, contact a Realtor that knows what they are. If you don't have an agent, give me a call, 801-567-0946 If it's more information you need, visit my website @ Salt Lake Homes and enjoy.
Thanks for the chat. Good Luck