Welcome to the TooeleHomes4Sale.com Blog

2017-05-01 10:50:14
On the fence about selling in Tooele County? Jump!

Homes are selling FASTTooele County Real Estate numbers for March are in, and it's another verse of the same song we've been singing. Too few homes, and rising prices.

Here's what I mean.

For March, new listings are down over last year by just under 4% to 172, while pending sales are down a bit over 1% at 151. Closed sales are also down over 3% in Tooele County to 107.

What About Home Sellers

Home sellers, will like these next few numbers.

Sales in Tooele County are up 7% over last March In median sales price to $220k, while the average price is up to over $231k.

The second number you'll like is that sellers are getting 98.6% of original sales price, a very slight increase over last year, but clearly showing homes are priced very well up front.

It also shows that buyers aren't having much success in trying for a 'deal'. Tough time to find investor properties...

How Do These Numbers Relate To Realtors?

Here are the numbers that are causing the Realtors some distress.

I've never seen our inventory at a lower level. March, year over year, available homes for sale are down over 34%, to just 219. That leaves us with an amazingly low months supply of 1.9 months. Last March we were at 3.1, which was a record low at the time.

What Does It All Mean?

What this is leading to is a serious amount of desperation among buyers and their agents. It is also leading to some seriously absurd offers being accepted, despite the fact that there is no way these homes will appraise, as appraisers aren't using voodoo to establish values like they did prior to the crash a decade ago. This can lead to additional rounds of negotiation and managing expectation for us with our sellers, but that's for another post...

So, it would be nice if our seller would take some pity on us agents and get in the game with their homes! We'd love some inventory, and you will receive a great price for your home. Get off that fence!

 

March Statistics  

Hope this was information you could use, and when it comes time for you to partner up with a real estate agent that will represent your interests, you will give me a call.

You can reach me or my partner Berna Sloan @ 435-840-5029.

If you're on the fence about selling in Tooele County, Jump, We'll catch you!@

 

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