Utah market statistics can be used to provide knowledge and understanding to Buyers & Sellers.
When comparing Utah real estate market statistics, it is important to get a view of various data points in the market. We are fortunate in Utah as the statistical data is available to analyze. The Utah real estate market statistics show us what we know in the market. In addition, we can compare with what has occurred in the past. In reviewing the information, it may help us understand the current issues and what we may expect moving forward based on data trends.
I pulled statistics from the Utah real estate market for 2016 forward to provide an understanding and get a clear picture of what we know about the market. December of 2020 had incredible sales as referenced in the graphic. By graphing the five past years data December through March we see a consistent dip down in January and growth through February & March. That is a trend with consistency that demonstrates that more inventory will be on the market soon.
What the statistics tell us about what is going on in the market.
- The months of January & February consistently have the lowest inventory of homes
- Home inventory in March generally exceeds that of December. The only exception was 2020.
- 2020 was a banner year with 5 months landing in the top 10 months of the time period studied.
What do these statistics tell Buyers?
The inventory will be increasing, but you must be ready. You must be pre-qualified. In other words, you must choose a lender and determine your purchasing power. Lenders have great loan packages available for all levels of buyers and credit. Determining the right lender for you is a step I would be happy to assist you with if needed. I have over 20 years of experience and many more tactics and tips to win deals for my buyer clients. As a professional real-estate agent, it is my goal to earn your business. Let me know how I can help you in this process.
Search for Homes Here You can use this link to search for your next property. I am available to assist you at your request. It is a process, and I am here to help you.
Utah Real Estate Market Statistics and why waiting is costing you Money?
In my review of these past 5 years the cost per square foot increased from $116 in December 2015 to December 2020 $190 and January 2021 saw a jump to $195. If you are waiting for this to decrease you are limiting your buying power by waiting because it is simply not going to happen.
In another example from these statistics, if you purchased a home in January of 2019 your value has already increased by $46 per square foot in just two short years. Let me show you how to leverage these market statistics to purchase a new home in today’s market.
How can these statistics help Sellers?
If you have been considering selling then you have probably asked yourself the question, “how do I sell and buy in this market?” Answering this question for your situation is what I do as a professional real estate agent. Let me help guide you in the process and introduce you to the tools we have available that will provide assistance to get you into the new home you are considering. It is my job to address your concerns and provide you with a strategy designed to meet your home objectives. My expertise will help you navigate all the hurdles that go with a home sale and purchase.
Check out your current property value Here A quick value check is a guideline. It is important to get a full property analysis to make a strategy and decision. Email me for your full analysis at cindy@wasatchfrontlife.com.
If you have been considering Buying or Selling and are looking for more information. Contact Cindy DeHart at EXIT Realty Success 801-319-0026 to help you navigate the current market!
