What brings settlers to Salt Lake City, Utah?
"Stunning mountain and panoramic valley views from most locations," says Realtor Kandy Klayton.
"This area of the valley is seeing a slight improvement over the last six months and homes in the $350,000+ price range are once again starting to move," says Klayton. "While more homes are going up for sale with the signs of spring, overall it appears that inventory is remaining neutral if not slightly lower due to homes selling again. The next 30 days should really be a good indicator of what to expect over the summer months."
Home sales are in a valley, hovering between a buyer's market and a seller's market, depending upon the area.
"The average three bedroom home sells for just over $64,238, and four bedroom - $223,747," say Realtors
Al and Patricia Fenimore. "The average days on the market indicates 80 days with 394 homes sold in the last 90 days and 1,349 new listings. This indicates just over 50 % of the homes will be sold in just over 60 days."
Spring is bringing out the budding buyers.
Says Realtor Steve Fairbanks, "The coming of spring has brought about a marked increase of activity. There remains lots of inventory, especially over $225,000. Homes below $150,000 generally sell a little quicker, especially those in good condition."
"Many new homes are available," adds Fairbanks. "but the best buys can be made on existing homes. If you want new, make sure you get an agent to represent you before you look. Onsite agents represent the builder and not you. Remember also, no matter what incentives they offer, there is no free lunch. Now is a good time to purchase, and, if you are realistic about price and condition, as good a time to sell as we will have for a few months."
"With the Olympics now a fond memory, our market has picked up considerably!" exclaims Realtor Sarah Wolach. "It is still a buyer's market, as there are lots of properties for sale, but the number of Buyers is growing dramatically. Properties which show well and are priced well are selling, sometimes with multiple offers!"
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Published: April 24, 2002
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