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2010-03-09 16:38:10
Market Trends Graphs for Utah Real Estate

 

Included in the creation and implementation of the new MLS system for real estate agents in Utah is a program which allows agents to analyze and track certain trends in the market. I have recently familiarized myself with the system and wanted to share a few of the results that I discovered.

All of my clients and most of my friends and family ask me the current status of the real estate market in Utah. These graphs of the market over the past 10 years will give you a very clear idea to the answer to that question. Although no one can predict what will happen, it appears for now that the market is beginning to stabilize. 

These graphs do not include the first quarter of 2010, but I can share from personal experiences that I have never been busier, and most of my colleges reflect the same experience. When my clients find good deals, I have had several experiences in the last month that the property is gone a few days later. Much of this is attributed to the tax credit deadline but many of these properties are too expensive or are in locations not convenient for first-time home buyers. 

As you can see, supply and prices have returned to a more regular level and pattern and homes are starting to sale at a more predictable rate. With the recent surge in demand, it appears that the real estate market will experience the normal 3-8% annual appreciation (one can hope). This is a great time to buy with the low interest rates, low home prices and thehome buyer tax credit. It is also a good time to sell a home for the same reasons.

I have selected a few different general graphs to share with you but I would be more than happy to do a customized analysis for you. Give me a call or shoot me an email with the type of house/market you are interested in and I will quickly send you an analysis for you. 

The State of Utah as a whole:

Utah Real Esate Market since 2000

Utah County:

Utah County

Provo:

Provo

Provo Townhouses:

Provo Townhouses

Provo Single Family Residences:

Provo SFR

Lehi:

 Lehi

 Pleasant Grove:

PG

Springville:

 Springville

 
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