February is a great month in Salt Lake County real estate because it gives us a hint of what may be around the corner in Spring. As the weather warms up the for sale signs come out. If these signs are already coming out in February, it may turn into a buyer’s market with an over saturation of homes being listed.
Salt Lake City
Median List Prices: $418K
This measure is up 5% for the month of April over 2018. An increase in list price shows that the market is still appreciating and the opportunity to sell your home and get a great offer is still there! Don’t miss out on the opportunity to sell during the remainder of this sellers market. Call us to find out your home value at no cost to you!
Active Listings: 2,588
This key metric is up 21% for the month of April over 2018! A steady increase in the amount of inventory can signal growth around the county. Too much inventory, however, can lead to an over saturated market. Don’t be alarmed, however. This only provides us an opportunity to price your home right and make it stand out from the competition!
Days on Market: 33
Days on market is a wonderful stat to see how long the average home takes from the time the sign goes in the ground to when the sign comes out because the sale is closed! This key metric is down 16% over April of 2018. When this key metric is going down, it means that homes are selling even faster. 33 days is an unbelievably short amount of time for this key metric and shows that if you list your home today, you will have it sold and closed on in about a month!
There’s no better time to get your home on the market in 2019 than right now. Mortgage rates have stabilized, but continue to motivate buyers to get into the market place.