Tooele County Real Estate still rolling...
Tooele County Real Estate is still rolling right along. Just received the final numbers for July.
The good ones are up, the bad ones are down (mostly)! Can't beat that.
For July, closed sales were up over 30% from same time last year. Median and average sales price were up 19% and 11% respectively, at 184k and 198k. The only numbers that concern me a bit are inventory related. Current inventory is actually down 6.5% to 518 homes. This is about a 6 month supply of homes. However, we're making a bit of a comeback, as new listings are up 20%. Maybe this will start a trend, as it's getting tough to find homes in some price points these days. Average days on market was also down a touch, to 72 days.
For the year, our numbers are looking good. Closed sales are up almost 15%, as well as listings increasing at 12%. Pending sales are up over 10%. Median sales price is up year over year by over 5% at 169k, with the average up 7% at 184k. However, days on market is creeping ack up again, to 77 days. In my opinion, this is being moved by the fact that USDA loan processing is moving at a snails pace in Utah. Somehow every other State around us in this region (California too!) has figured out how to do it in half the time. USDA blames our lenders for bad files, yet somehow these same lenders don't have the same issues in other States. Hmmm
Overall, as I've been saying consistently for the last several years, the outlook is pretty rosy here. As the world discovers how much more your dollar will get you here, Tooele County Real estate keeps rolling along.
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