Friday, December 9, 2011

Utah Home Sales Up!

If you haven't seen this great replica of the house from the movie Up! you should pile the kids in the car and go see it. It was built by Bangerter Homes and is located here. It recently sold so you can't go inside but it is still worth the drive.
This is no longer the only house in Utah that is Up! Utah home sales rose for the fifth consecutive month in October, up nearly 25 percent from last year, according to a report just released by the Utah Association of Realtors. During October, Utah Realtors sold 2,819 homes, townhouses and condos compared to 2,261 sales lastyear. This is the fourth consecutive month that the increase has been in the double digits.

Since the beginning of the year, Utah home sales are up more than 7 percent compared to
the same 10 months in 2010.

You hear a lot about "absorption" in real estate. That is how long it would take for homes currently on the market to be sold, or "absorbed." Homes are also being absorbed at their fastest pace in more than four years. In October, it would have taken 8.5 months to sell all the properties on the market at the current pace, compared to 11.3 months last year. The absorption rate hasn't been better since September 2007.

What this means is that your home will sell more quickly than it would have at the same time last year. Obviously it is still a tough market for sellers. You want to have the best looking, best priced home in the neighborhood to move your property quickly. If you have questions about what you can do to get your house ready to put on the market feel free to call me or drop me a quick email. I would be happy to come over and do a walk through with you.

1 comment:

  1. Utah is great and all and so is the house you helped us with in Draper and these stats are fascinating - but can we get something going on this family 'compound' with air strip and nuclear bunker?