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Good Afternoon!
I understand the groundhog did not see his shadow last week, so spring is around the corner! As we endure the last few weeks of winter here in Utah, here are the real estate market summary reports for Tooele and Salt Lake Counties for January. I am including last year's numbers as well so you can compare them to this year's.
Tooele County
January 1-31, 2011
Number of Homes Sold: 38
Average Sales Price: $151,004.34
Average Price Per Square Foot: $65.97
Average Days on Market: 105
Tooele County
January 1-31, 2010
Number of Homes Sold: 39
Average Sales Price: $167,073.08
Average Price Per Square Foot: $71.77
Average Days on Market: 130
The Tooele County Absorption Rate report shows we have approximately 9 1/2 months of inventory.
Salt Lake County
January 1-31, 2011
Number of Homes Sold: 544
Average Sales Price: $235,531.85
Average Price Per Square Foot: $91.52
Average Days on Market: 146
Salt Lake County
January 1-31, 2010
Number of Homes Sold: 525
Average Sales Price: $267,579.16
Average Price Per Square Foot: $102.83
Average Days on Market: 134
The absorption rate for Salt Lake County is approximately 7 months of inventory.
It appears that in my brokerage the phone is ringing more, so it looks like things are beginning to pick up after the traditional holiday/winter slump. As the weather improves, so will the number of buyers looking for new homes! If you or any one you know is looking to buy or sell real estate, have them give me a call! Also if you know of anyone having trouble making their house payments, please call me. There are many options available, and I would be happy to help you or your friend work through the tough times that they are facing so foreclosure can be avoided! If you do not wish to receive these e-mails, please send an opt-out message to andreacahoon@remax.net.
Andrea Cahoon, CDPE, CRS, TCRES, CNHS
RE/MAX Platinum
435-850-8167
P.S. You can view this market summary report, and others from past months at my blog located at http://inside-real-estate.com/andreacahoon/ . Interest rates are hovering between 4.5% and 5%, which is still awesome!
Posted by Andrea Cahoon on February 8th, 2011 2:37 PMPost a Comment (0)
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