Please note that I am not maintaining this blog currently. Please vist www.DanRealEstateBlog.com

Thanks,

Dan Walker

I would you like to make you aware of some new buttons I have put on my website at www.AtHomeUtah.com. You now have the option of searching only for Short Sales with bank approved prices or for only bank owned properties. You can also search by area for homes that are offering a lease option.

For any questions please call me at 801-288-2260 or email! Your Salt Lake City Utah Real Estate expert,

Dan Walker

Should I buy now in Salt Lake City? Or wait? Is now the time to buy a home?

 

For the week of July 6, we currently have 8527 active homes for sale, and in he last 30 days, 2281 of those were listed. 883 homes have been put under contract or pending, 1257 homes have expired, and we have sold 958properties.

This is a significant improvement from the first of the year, however we are still in a buyers market.

6-Jul	Salt Lake 1
	Active	8527
	Active -30	2281
	U/C -30	883
	Expired	1257
	Sold	958
	Supply	8.90

 

We currently have a 8.9 month supply of homes for sale. It's never been a better time to buy!

30 day snapshot on home sales in Salt Lake County

31-May	Salt Lake 1
	Active	8263
	Active -30	2382
	U/C -30	1040
	Expired	1229
	Sold	852
	Supply	9.70

We currently have 8263 active listings
2382 were listed in the last 30 days and
1040 were put under contract or pending.
1229 homes expired or didn't sell, and
852 homes sold n the last 30 days.

30 day snapshot on home sales in Davis County

31-May	Davis 2
	Active	2270
	Active -30	649
	U/C -30	310
	Expired	386
	Sold	273
	Supply	8.32

We currently have 2270 active listings
649 were listed in the last 30 days and
310 were put under contract or pending.
386 homes expired or didn't sell, and
273 homes sold n the last 30 days.

30 day snapshot on home sales in Summit County

31-May	Summit 3
	Active	1029
	Active -30	245
	U/C -30	40
	Expired	152
	Sold	38
	Supply	27.08

We currently have 1029 active listings
245 were listed in the last 30 days and
40 were put under contract or pending.
152 homes expired or didn't sell, and
38 homes sold n the last 30 days.

30 day snapshot on home sales in Wasatch County

31-May-08	Wasatch 4
	Active	572
	Active -30	125
	U/C -30	16
	Expired	72
	Sold	20
	Supply	28.60

We currently have 572 active listings
125 were listed in the last 30 days and
16 were put under contract or pending.
72 homes expired or didn't sell, and
20 homes sold n the last 30 days.


30 day snapshot on home sales in Utah County

31-May-08	Utah 5
	Active	5282
	Active -30	1303
	U/C -30	389
	Expired	724
	Sold	356
	Supply	14.84

We currently have 5282 active listings
1303 were listed in the last 30 days and
389 were put under contract or pending.
724 homes expired or didn't sell, and
356 homes sold n the last 30 days.


30 day snapshot on home sales in Tooele County

31-May-08	Tooele 7
	Active	609
	Active -30	164
	U/C -30	50
	Expired	93
	Sold	55
	Supply	11.07

We currently have 609 active listings
164 were listed in the last 30 days and
50 were put under contract or pending.
93 homes expired or didn't sell, and
55 homes sold n the last 30 days.

30 day snapshot on home sales in Weber County

31-May-08	Weber 8
	Active	2316
	Active -30	631
	U/C -30	285
	Expired	346
	Sold	275
	Supply	8.42

We currently have 2316 active listings
631 were listed in the last 30 days and
285 were put under contract or pending.
346 homes expired or didn't sell, and
275 homes sold n the last 30 days.

Call me to see how these numbers affect you in your area.

Salt Lake City Home Sales

We currently have 8113 active listings in Salt Lake county.
2525 were listed in the last 30 days, and 1097 properties were put under contract.
We had 1337 properties that didn't sell, and had 909 homes that did sell.

It's good to see the number sold up in the 900 range, but we still have a 8.93 month suppply
of inventory to burn through.

We are still in a buyers market, and interest rates are still great. What are you waiting for? An invitation?

You are cordially invited to set an appointment with me to view some properties, and enter into negotiation on the property of your choice! To partially quote Romans 1:20, you are now without excuse!

Until next time, Dan

Shirking my Duty in Salt Lake City

Well I have to admit I have been less than enthusiastic when it comes to maintaining this blog. I have been watching the market closley in Salt Lake City and posting religously only to think that no one really cares or listens, or pays attention. Well, hopefully I have gotten over myself and will get back with the program. You see, I know that sellers and buyers need my knowledge and expertise now, more than ever.

As I see the number of home sales pick up here in Salt Lake, I also see the inventory increase and it's apparent that we really just are maintaining status quo. The inventory is right about where it's been for the last couple of months. So here's my theory, and I'm pretty surer I'm correct.

What I'm seeing is a lot of homes that still have not sold, and I'm seeing homes that expired come back on the market. With all the media attention on the "bad market", I think a lot of sellers have had bad agents or in-experienced agents working for them. Agents who have not been able to counsel their sellers correctly, and advise them correctly on how to get their home sold. When the home doesn't sell, the agent blames it on the market, and the seller finds it very believable becasue that's all they hear all day long.

IT'S TIME TO WAKE UP! Experience is the key to success in this market! It may be time for you to consider a different agent at this point if you still need to sell, or possibly you need to start listening to the agent you have.

Well, I'll get off my soapbox now. Remember, I'm Dan Walker! I know how to sell houses, and I always go the extra mile.

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.

Salt Lake 1	April 17,2008
Active	7705
Active -30	2460
U/C -30	1130
Expired	1384
Sold	899
Supply	8.57

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.

4/9/	Salt Lake 1
	Active	7595
	Active -30	2499
	U/C -30	1075
	Expired	1420
	Sold	892
	Supply	8.51

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

4-Apr	Salt Lake 1
	Active	7572
	Active -30	2474
	U/C -30	1005
	Expired	1415
	Sold	862
	Supply	8.78

Thinking about selling? Visit me at www.NoRegretsListing.com
Find all the homes listed at www.AtHomeUtah.com

Here it is! This weeks market stats for Salt Lake.

We have 7457 active listings, and 2543 of those were listed in the last 30 days.
1026 have gone pending, while 1574 have expired. We sold 860 homes in the last thirty days, that's up 29 from last week. Slow but steady, that's a good thing.

Here's the latest sales stats for the greater Salt Lake City UT real estate market.
The market continues to improve, even with the roller coast ride we are experiencing in the mortgage arena. So far the inventory is holding fairly steady, we have been adding about a hundred new listings every week. The number of sales have increased every week, and our absorption rate is dropping every week. All good signs that indicate an improving market. Still a very strong buyers market.

Average tme on market for Salt Lake county is 59 days, less in the lower price brackets, and more in the higher price brackets.

Currently 7357 active listings in Salt Lake county.
2556 were listed in the last 30 days.
1094 properties were put under contract or pending.
1094 properties have expired.
831 propertieswere sold or closed in the last 30 days.
If we continue at this current rate, we have about an 8 month supply of property.

If you are thinking of selling or buyind, contact me to see what this means for your specific area, and price bracket.

20-Mar	Salt Lake 1
	Active	7357
	Active -30	2556
	U/C -30	1094
	Expired	1650
	Sold	831
	Supply	8.85

Here's this weeks stats for the greater Salt Lake City UT Real Estate market, and all of Salt Lake County.
As you can see if you view some of my older posts, the market is steadily improving!

12-Mar	Salt Lake 1
	Active	7217
	Active -30	2399
	U/C -30	1052
	Expired	1721
	Sold	753
	Supply	9.58

Graph showing Salt Lake County Homes Sold per quarter.

The green line is total number of homes listed
The blue line is average sold price
The red line is total number of homes sold

Below is a summary of what has been happening in Salt Lake County and the greater Salt Lake City UT Real Estate market. For questions, feel free to email me. As you can see, we're still in a strong buyers market, but overall, the market is improving.

1/17/2008	Salt Lake 1
	Active	7102
	Active -30	2575
	U/C -30	827
	Expired	1808
	Sold	550
	Supply	12.91
2/1/2008	Salt Lake 1
	Active	7098
	Active -30	2572
	U/C -30	831
	Expired	1975
	Sold	534
	Supply	13.29
2/7/2008	Salt Lake 1
	Active	7136
	Active -30	2532
	U/C -30	817
	Expired	1852
	Sold	544
	Supply	13.12
15-Feb	Salt Lake 1
	Active	7106
	Active -30	2414
	U/C -30	917
	Expired	1814
	Sold	582
	Supply	12.21
20-Feb	Salt Lake 1
	Active	7082
	Active -30	2339
	U/C -30	965
	Expired	1708
	Sold	601
	Supply	11.78
6-Mar	Salt Lake 1
	Active	7106
	Active -30	2297
	U/C -30	985
	Expired	1732
	Sold	696
	Supply	10.21

The FHA loan limits for the Salt Lake City UT area and all of Salt Lake County have been increased to $729,750 !!!