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