January 2019 Market Update

Now that a new year has arrived, I’d like to just give a brief update of the current real estate market conditions.

For Utah County residents, here’s a quick summary of recent real estate stats – with a bit of good news for buyers!

·      Thanks to the government shutdown- interest rates are down around 4.375% (FHA/VA)

·      Most popular price range for home sales in Utah County is $200,000 – $350,000*

·      Homes in this range are on the market an average of 29 days*

·      For past 45 days in Utah County: Average list price was $346,234 / Average sold price was $345,884*

·      For same time period last year: Average list price was $335,140/Average sold price was $329,353* 

·      State of Utah – home values increased nearly 10% in 2018

·      State of Utah – Values are predicted to increase around 5% in 2019

If you have questions or would like a guide for preparing to buy or sell a home in 2019, please contact me. Thank you!

*Data retrieved from utahrealestate.com for the period December 1, 2018 – January 16, 2019