Over on our other website, Chris talks about Tooele UT housing market. and gives his take on what the WFRMLS monthly report means to our buyers and home sellers. I’m going to re post here with some observations of my own.
My initial reaction when looking at the report was to realize that these stats were probably not all good for both sides of a transaction. They never are.
What’s good for home buyers is probably not good for someone in Tooele trying to sell their home. The fact that homes are sitting on the market in many cases less than a week, and then getting !00% of the listed price seems not to give much good news to potential home buyers. Particularly those buyers looking for a “deal”.
Likewise, average price and median sales prices were up in all areas of Tooele County. More good news for sellers right? Nothing in here for sellers.
Not so fast! This should be good for buyers as well. It may be what they have all been waiting for. PROOF OF A TURNAROUND.
If you have been waiting for the market to turn, 6 months which is what we have, should be enough assurance to shout GO AHEAD,BUY REAL ESTATE in TOOELE UT NOW!
What Chris Had To Say About Tooele Utah Real Estate
2017-08-01 14:46:57Tooele Market Report Not Sure Anything New
Not sure I have anything new to say…The Tooele County Real Estate stats for the month of June simply sound like the ones from May…and April…and March, you get the picture. Like most of the rest of Utah,Tooele County is seeing an amazing real estate market, with some historic numbers. Some of these are good, some are not so much, depending on your point of view.
Information For House Sellers
For sellers, the goodness is in pricing. Median sales price for sales in June was 225k, up over 7% vs this time last year. Average also went up a ton to 248k. For the year to date, median is up over 9% to 216k. Average is up as well, to 232k.
In addition, sellers will be happy to hear that inventory of Tooele homes for sale is down over 24% vs last year, to 260 properties on the market. This leaves our inventory at a teeny 2.3 months. Also, days on the market is down to 27 days. The last good news for sellers is that sellers are receiving 100% of original list price!
Home Buyers Info
Any good news for buyers? Well, maybe it’s that number of new listings is up over 9%. While that still leaves us down for the year, I’m hoping it signals the start of a trend.
The other bit of good news is also the same as it is each month. If you look at the graph below, you’ll see that Tooele County is prices significantly lower than the state average.
What does this mean? Simply put, it means that Tooele County is STILL the best place for you to buy your home!
While none of that may be news, it’s still very true that you need to buy your home in Tooele County!
Stats From The MLS
Are you motivated yet? Think you should move before interest rates go up & cool off the Tooele UT housing market?
I’d like to help with that. In fact that’s the reason Chris and I spend so much time finding and bringing to you useful information about Tooele Real Estate. Check us out. Click on Group1 Real Estate to see what we have done and how we do it. Most of all what you can expect us to do for you as your partner.