It’s the first of the month, so you know what that means…
MARKET UPDATE TIME 🥳
I’m going to go over the numbers as a quarterly review since we are now started Q2 (howwww??)
Average Sold Price has exploded from $466k in January to $512k in March 🤯
Days on Market continues to drop. It started at 29 days and is now down to just 18 days!
The Number of Homes Sold has seen a steady rise, 741 to 1,249, which is hopefully an indication that inventory will pick up some for Spring and Summer 🤞🤞
And finally, the number of Current Active Listings…there’s been a teensy increase from 477 to 520. So still incredibly low which is causing all kinds of trouble for buyers, but hopefully it keeps going up!
This housing crisis is not just in Utah, it is nationwide, although Utah is at a higher price point than many markets which makes it even tougher. 😪
If you’re able to get into a property now, I highly recommend it. Your equity is going to shoot through the roof in just months and you can refi/HELOC as soon as 6 months with some lenders!
Let me know if y’all have any questions!