Salt Lake City Real Estate Heartbeat February 2016
/I just got my copy of the January 2016 Realtors Confidence Index Survey Report and the word is that the Real Estate Market in Salt Lake City - and the country - is hot, hot, hot. It's an exciting time to buy and sell homes.
It probably feels like I'm beating a dead horse on the subject because I've been writing for weeks on what a great market it is to sell a home right now. I can't help myself - it really is phenomenal.
If you like numbers, let me give you some:
- The median price of homes in Salt Lake County increased just over 6% between 2014 and 2015. That makes our median price here in the valley $248,000.
- The average time on the market in Utah for a home for sale is 30-45 days. That's killing the national average of 64 days.
- First time home buyers are making up 32% of all home sales and investors are 17%. Distressed sales (foreclosures and short sales) are 9% - down two percent from last year at the same time.
- The outlook for the next six months for the Salt Lake Real Estate Market is strong for houses. It's also been strong and is expected to continue to be strong for townhouses and condos too.
If you want to be part of all this excitement give me a call and we'll get jump in together.
