Tooele County Utah 7th Fastest New Home Market in Nation

Grantsville UT new homes
Grantsville UT leads Tooele County in New home construction

According to a May 1st article in the Tooele Transcript Bulletin by Tim Gillie, Tooele County is 7th fastest new home market in nation.

That was great to hear for those of us that think EVERYONE should be living and raising a family in Tooele County. But…………………. There was some other info that was important in the article and I want to point those out to you and maybe comment about what they mean to me.

Here are both of our remarks. ENJOY!

MAY 1, 2018
New home construction in Grantsville led county during 2017

Community issued 147 building permits for single-family homes 

The U.S. Census Bureau has labeled Tooele County as the seventh fastest growing county in the nation for 2017. Local building data reveals that Grantsville was the largest home building community in the county during 2017.Grantsville issued 147 building permits for single-family homes in 2017.

The article I published a couple of years ago about what 100 new home build jobs means to the economy gives life to this stat. In that article I wrote that 100 new single family houses being built in Tooele county would create about 298 full time jobs.  Only 176 would be construction jobs. Those jobs would contribute around $162,000 in salaries.

Multiply those numbers by 147% and now you have an idea why these numbers and new home construction means so much to our community.

That 147 number is 10 more than the 137 single-family home building permits that the County reported it issued for homes in Stansbury Park, which has had the second highest number of permits issued for single family homes in 2017, according to data from a state construction database and the Tooele County building department.

Now you know the drill. Multiply those same numbers from my old post by 137% to find out what contribution Stansbury Park UT made to the local economy when it issued those building permits for new homes. Ad the 2 communities together and you are beginning to see how important to our livelyhood and wellbeing builders, developers and construction workers can be.

“Grantsville is just a great place to live and a lot of people know that,” said Grantsville Mayor Brent Marshall. “Our community is unique, we have a lot of amenities and a convenient commute into the other valley. Grantsville commuters can use Burmester Point and bypass the traffic in Lake Point.”

This paragraph from the Gillie article suggests that out here we could be considered a bedroom community to Salt lake. Good reason for that.

Commute times!

Because of the freeway and planned road developments commuting to downtown SLC can be quicker because of traffic than many other areas in the valley. Here are some approximate examples of drive times (Please insert the appropriate disclaimer here.)

  1. Grantsville UT to State Capital   37 minutes.
  2. Grantsville to University              44 minutes
  3. Grantsville to Airport                   27 minutes
  4. Grantsville to Sandy UT (UAT)   45 minutes

 

New Home Growth Has a Few Downsides,

“There are some folks that think we don’t have enough recreational facilities like parks,” he said. “We have some parks that are heavily used, but parks take a lot of time and money to develop.”

Grantsville’s record growth for 2017 came in a year when building permits for new single-family homes decreased countywide by 2.2 percent.

Throughout the county there were 567 building permits for single-family homes issued in 2017 compared to 580 in 2016.

The largest decline in new homes was in Tooele City where the number of building permits for new homes dropped from 131 in 2016 to 91 in 2017, a 30 percent decrease, according to state construction database.

Obviously lack of new builds has a negative impact in the area. By now you know the drill, and can figure out the impact with out my crib sheet. While we were able to brag about what Grantsville, Stansbury Park, and Lake point for our local economy, Tooele City was not so good to us. You can figure out how much by multiplying 40 units by the projected income per permit.

Some locals, including our own Broker address that issue.

Tooele City will probably make up for that decrease by the end of this year,” said Chris Sloan, broker with Group 1 Real Estate Tooele. “Building in the county has been growing for the last couple of years and Tooele City has had a number of new developments approved where we will see homes built and sold this year.”

Home Building in Stansbury Park Slowed Down in 2017.

After growing from 87 new homes in 2014 to 122 new homes in 2015, and then to 169 new homes in 2016, the number of new single-family home building permits issued for Stansbury Park in 2017 dropped to 137, an 18.9 percent decrease from 2016.

While Grantsville led the county in the total number of homes built, Lake Point was the Tooele County community with the largest growth in new homes by percent. There were 35 single-family home building permits issued for Lake Point in 2016 compared to 75 issued in 2017, a 108-percent increase.

Two new subdivisions in Lake Point were sold out by the end of 2017, according to Faye Hall, Lake Point resident and branch broker for Wise Choice Real Estate.

“Chris Robinson’s project [in Saddleback] and Eagle Point both sold out,” Hall said. “They were nice homes on one-acre parcels. The homes sold as fast as they could build them.”

Sloan expects new homes will continue to lead the real estate market in Tooele County in 2018.

“New homes are about the only thing we’ve got on the market out there,” he said. “And we’ve been getting three or four offers above list price within 24 hours of a home going on the market.”

Where To Find New Construction in Tooele County

Here is a break down of new homes listed in various communities around the county.

A lot to digest here I know.

But, I think it’s important to know that the concrete trucks traveling the highways, the crowded lunch and breakfast customers at Virg’s  & Denny’s (just to name a couple) mean $$$$ for the community. Plus if you are looking for a home to buy, think of buying new construction in Tooele County. ( we’ll call you a patriot).

Lastly, when you need the help of a local real estate agent to represent you, you will think of us. Wer’e Chris and Berna Sloan @ Group1 Real Estate.

You can see what else we know about Tooele Real Estate on our blog. Check us out.

We are local, experienced and really would like to be your advocate.

Call us 435-840-5029. Find out more about why Tooele County Utah is 7th fastest new home market in nation. And… What it means.