Monday, December 31, 2012

2012 - The Year of Rising Home Prices

As we wrap up 2012 there was some great news from the housing market. From 2008 to 2011 the median home price in Salt Lake county dropped 24%. In 2012 the median price in Salt Lake County rose 11% year over year.

Not only are homes selling for more, they are selling faster and for closer to asking price. Houses sold an average of 17 days faster in October 2012 than they did in October 2011 and they sold for 96% of their original list price, versus 91% last year.

Combined with historically low interest rates this is great news for sellers and buyers alike. It is great time to be a buyer or seller in Utah right now. If you are wondering how much your home is worth in this new market, give me a call.

No comments:

Post a Comment