When you ask “how does Tooele real estate stack up” I think what you really want to know is, “what’s selling in various parts of the county” and for how much ?. Further you are probably only concerned with one of 3 communities in Tooele County. Cause that’s where the most of the homes are being bought and sold.
Most Tooele Housing Inventory
Further, If they are home buyers, they are interested in where the best homes are in the area, and how much they will need to pay to get what they want. If they are sellers the interest is also in price, but more about what they can expect to sell their house for & how long will they need to wait before they can expect to deposit the check.
My friends at KCM sent this post out to me this morning that talked about information folks might like to see on a national level.and I’m sending it along. But ….. the rest of the article is about how those items relate to the Tooele market and what is important to you.
Existing Home Sales Slowed by a Lack of Listings
- The inventory of existing homes for sale has dropped year-over-year for the last 29 consecutive months and is now at a 3.9-month supply.
- Existing home sales are currently at an annual pace of 5.48 million, the highest pace since June of this year, but down 0.9% from October 2016.
- NAR’s Chief Economist, Lawrence Yun, had this to say: “While the housing market gained a little more momentum last month, sales are still below year ago levels because low inventory is limiting choices for prospective buyers and keeping price growth elevated.”
How Tooele County Stacks Up:
In October 2017 there were 126 sales recorded which was 7 more than the previous month and almost 7% more than last year at that time.The dramatic increase in price for the year can be attributed to the number of new construction homes being sold this year. That also explains away the fact that days on market increased from 35 to 41. Here are all of the homes listed in Tooele County.
Tooele City Stats:
Sales in October in the City of Tooele were up a little over 10% from last year and 17 housing units from the previous month. The cost per SQFT increase of $12.25 from a year ago would make the average price of the average sized home (2244 sqft) in Tooele City sell for about $220000 dollars. Days on market showed just a slight increase from 32 DOM to 34. Find Tooele City listings here.
Stansbury Park Information:
Stansbury Park Utah is the area that lack of inventory seems to hit the hardest. Sales are down almost 30% from one year ago, Twenty three this year versus 32 last October but sellers have been getting 100% of asking price. That trend has been consistent over the year generally yielding no less than 98% and in one month returning home sellers 101% of ask. . Average sales price has risen to a touch over $268,000. Homes listed for sale in Stansbury Park are lasting only 29 days on the market. These homes are listed today in Stansbury.
Grantsville Utah Real Estate Statistics:
The high point of real estate in Grantsville UT is that days on market for homes for sale is down from a respectable 49 days in 2016 to a mere 21 DOM this October. Part of that dramatic stat is that available house have been reduced by over 30%. Listings on the MLS for houses in Grantsville have dropped from 15 last October to 10 homes this year. The average price is a plus for sellers as well. Going from $243 to $258,000 (almost $90 dollars SQ FT to just under $108 dollars a square foot) this year. The downside however for sellers but maybe an upside for buyers if they can find the right listing is that homes in Grantsville sold for only 93% of asking price. Find homes here in Grantsville Utah
Tooele County Summary:
Basically what we found out from analyzing the October sales report in Tooele County and comparing to previous months as well as a year over year look, we have found some interesting facts.
- Homes selling for the highest average sales price ($268,000) are located in Stansbury Park UT.
- Stansbury Park selling for highest Cost per sq.ft. $115.56
- Cheapest is Tooele City @ $102.00.
- Homes for sale in Tooele County are selling for 98% of asking price
- Houses are selling around the county in about 40 days.
- House values have increased $11.43 a sq.ft. in the last 12 months.
Not sure what all this means to you? I understand.I also understand that It will mean something different to a seller than to a home buyer.
That’s where I come in. Frankly it’s why I spend time creating information about Tooele County real estate & publishing on my blog. I want you to know that I know and that you can count on me to get you the right answers when you begin your housing search. In other words I want to be your agent.
Look up my bio; about Berna Sloan; see what I have done for hundreds of clients and would love to do with you.
Call me 435-840-5029. Ask me the question, how does Tooele real estate stack up?