I hope this will help you learn August 2019 Tooele County real estate stats and give you a look at some of the information that may help you make a home selling or house buying decision.
I apologize that the numbers reflect activity more than a month old, but as we have noted in previous posts this is the quickest we get the info from the MLS.
Sorry for the delay!
|August 2019 Tooele County Real Estate Stats!
Waiting for the final 2019 Tooele County Real Estate stats?
Well, the numbers are in. Almost every one of them is up!
Numbers Compared To Last Year:
I’ll touch on the August 2018 vs August 2019 stats first.
New listings were down a disappointing -18.5%. From a robust 205 last year in August, to a modest 167 homes in August 2019.
Not sure where that came from, other than to say that it has been this lack of housing inventory that has driven the market in all of the county so far this year.
The old adage “you can’t sell from an empty wagon” seems to be the case.
Closed sales were also down significantly, at 134 units this year from 147 last year.
It should be no surprise then that following the law of supply and demand, median and average home sales prices in Tooele County were up a bit as well.
Those are the high points. (or low points if you are on the wrong side of the equation) The real question is, how did we, (Tooele County) do for the year, and how does that compare to other parts of the state?
Compare Stats By Year
While new listings were down, there were some bright spots. IE: If buyers suffer then sellers must prosper is true here. Numbers show that we have returned to pricing that has made up most, if not all of the losses that took place during the recession.
The key now is to let homeowners know that most of them have equity again and can get back in the game. Here is a look at all of the homes listed in Tooele County.
Over 95% of all of the homes for sale in Tooele County are located in just 5 areas, lets see what current housing inventory is available to buyers.
Closed sales were down as mentioned almost 9% for the year. But reflecting back in recent market numbers, we (the Tooele real estate market) have recovered most of what was lost.
Median sales price was up 5.6% to $275 k. Average sales price was also up. by over 9.3% to nearly $301,000. These numbers are up significantly. the increase in value continues to be very healthy and appears to be sustainable.
That idea is made even more believable with all the talk of possible interest rate reductions, and The fact that Tooele County remains on the list of rural counties eligible for USDA rural loans, featuring 100% financing.
Days on market was up 2 days to 30 days. This number changed up and down a bit as the year went on. I attribute this to the inconsistent turn-around times of USDA Rural loans. These loans are government sponsored no money down loans, unique to small towns and rural areas.
Year To Date Sales Stats For Tooele County
For those of you that like to predict trends, I am including some housing sales stats for the year. Another indication of health and prosperity of the Tooele County Real Estate market.
Remember it’s not as important to remember the final 2019 Tooele Real Estate stats for August 2019 as it is to remember who knows what they were.
call me, Chris Sloan 435-840-5029