Are you trying to time the market? It's interesting when I talk to buyers and sellers, I always hear "well I think prices are going to come down some more", or "we're waiting to buy until the market bottoms out."

Real estate prices are controlled by one thing, and one thing only. Supply and demand. It's really very simple. Let's take look.

Right now we have 7705 active listings in Salt Lake County. 2460 were listed in the last 30 days, and 1130 were put under contract. 1384 listings have expired or didn't sell, and we have sold 899 properties in the last 30 days.

In the week of January 17, 2008 we had 550 properties sell. For this week, we had 899 sell. That is a 63% increase in the number of sales. Back in January, the average sales price was $274,644, February was $276,009, and March was $275,057. Average sales price for April so far is $284,423. Is it possible the bottom has come and gone?

If you have been waiting for the bottom, I would mobilize all your efforts right now (in other words, get your butt in to the lender and get pre-approved), 'cause you could miss the boat if you're not careful.

It's nice to see the weather warming up a little, and I love these spring time storms. Remember, April Showings brings May Closings!

Our number of active listings is 7595, with 2499 listed in the last 30 days.
1075 have gone under contract, and 1420 have expired.

We sold 892 homes in the last 30 days. We're inching up there, we need to get to the 1000-1200 mark every thirty days to get back to somewhat of a normal state.

Right now, our average time on market is 60 days, with the 200K and below selling much quicker. Homes have been selling for 97-98% of their list price, and the averge price per square foot has been $118-119. Our current average sales price is about $270K, that is up substantially from our low of last November where we bottomed out at 260K. It was clear back in July of '06 since are average price was that low.

We're also seeing a lot of those homes in the first time buyer range starting to sell quickly now.

If you are one of the ones who have expired, and still need to sell, visit my site at www.NoRegretsListing.com to see what I can do for you.

If you need some real help buying, give me a call, and I'll help you get the pre-approval process started.

Salt Lake City UT Real Estate Market Statistics for the week of April 5, 2008

We currently have 7572 active listings.
2474 were listed in the last 30 days.
1005 properties have been put under contract or gone pending.
1415 properties have expired.
862 homes have sold in the last 30 days.
Our current absorption rate or supply is 8,78 months.

For more information on how this affects you, call me, I'll be glad to explain in terms that is easily understood and how it applies to your situation