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Salt Lake County More Homes Available to Buyers

Monday, September 16, 2013
by Mark and Monte Jones

Great news for home buyers in Salt Lake.  Our market has a little more inventory to select from.  Just a few months ago we had less than a two months supply of active homes available.  Now we have just over four months! 

This will not only make it easier for home buyers to find the right home but then negotiate the right terms.    These new figures put us very close to what most Real Estate professionals consider a stable market. 

The higher inventory makes it more important home sellers select a real estate agent that makes their property stand out from competition   Call Mark or Monte today to see how we make our clients listings stand out from the competition! 

Want to know the absorption rate for your neighborhood or what your home is worth?  Call or email us today.

 

 

 

Salt Lake County Single Family Homes Absorption

Thursday, May 16, 2013
by Mark and Monte Jones

We made it through the busiest time of the year!   For the buyer’s that have been looking, offering and been unsuccessful at getting a home under contract:  KEEP LOOKING AND HANG IN THERE!   A small window of opportunity is coming!

Every summer after the spring rush there is a short period of time between the end of June and end of July the real estate market slows down in Salt Lake.  I used to think this slow down was caused by Realtors taking time off to play in the sun.  I have discovered that is only part of the slow down the other part is buyers and sellers taking time off to play in the sun!    

If you are still shopping or on the fence, the summer slow down could be the perfect opportunity for you to find the perfect home!    

Buyer Tips for This Competitive Market like ours:

  • Make sure you have an aggressive agent that knows how to work a competitive market 
  • Make sure your agent makes you aware of new listings the day they hit the market   
  • Schedule to see new listings the day they hit the market
  • Have your ducks in a row, and make sure your agent and lender do as well
  • When you find the right home don’t delay on making an offer
  • Put your best foot forward when you offer remember when you get a home under contract you will think you offered too much and when you don’t get one you think you didn’t pay enough! 

 

You might have to make more than one offer before you get a home so don't get discouraged.  The following absorption report will explain why!   

 This absorption report is for single family homes sold or under contract in Salt Lake County.

 

 

 

 

2 Months

3 Months

4 Months

5 Months

6 Months

12 Months

Active Properties:

2,586

2,586

2,586

2,586

2,586

2,586

Under Contract Properties:

2,073

2,073

2,073

2,073

2,073

2,073

Sold Properties:

1,932

2,673

3,383

4,104

4,969

11,109

Market Absorption:

2,002.50 Per Month

1,582.00 Per Month

1,364.00 Per Month

1,235.40 Per Month

1,173.67 Per Month

1,098.50 Per Month

Inventory:

1.29 Months

1.63 Months

1.90 Months

2.09 Months

2.20 Months

2.35 Months

Absorption Report for Salt Lake County Single Family

Tuesday, November 20, 2012
by Mark and Monte Jones

This absorption report is single family homes located in Salt Lake County that are not listed as Short Sales.  

 

 

2 Months

3 Months

4 Months

5 Months

6 Months

12 Months

Active Properties:

2,032

2,032

2,032

2,032

2,032

2,032

Under Contract Properties:

1,292

1,292

1,292

1,292

1,292

1,292

Sold Properties:

1,539

2,404

3,301

4,236

5,132

9,128

Market Absorption:

769.50 Per Month

801.33 Per Month

825.25 Per Month

847.20 Per Month

855.33 Per Month

760.67 Per Month

Inventory:

4.32 Months

4.15 Months

4.03 Months

3.92 Months

3.89 Months

4.37 Months

 

Under 5 months of inventory available!    Where is that shadow inventory everyone is worried about?  Bring it on we need it!  

 

1-4 months of inventory is a seller’s market

4-6 is a neutral market

Over 6 is a buyer’s market

Absorption Report for Single Family Homes in Salt Lake County.

Friday, October 12, 2012
by Mark and Monte Jones

As expected from the busy spring and summer months the number of available homes in Salt Lake County is very low.  Although teetering on the edge of a seller’s market when you lump all price ranges and areas together there are many micro markets you should know about before you start shopping or thinking about selling a home.  If you are one of the buyer's looking for a home under $200,000 you know how competitive the market is!    Likewise, our seller's with homes over $600,000 understand all too well how few buyers are shopping that market.       

For those of you looking in the strong seller markets with the season change to fall and winter there is less competition and more opportunities for you to find the perfect home and if you are a seller in the higher price range fall and winter buyers are serious buyers not just lookers so although there are fewer showings those buyers need to buy a home and it might be yours!  

To find out what your particular market neighborhood or price range is doing call or email the Jones team today. 

Absorption report for single family homes in Salt Lake County

 

2 Months

3 Months

4 Months

5 Months

6 Months

12 Months

Active Properties:

3,178

3,178

3,178

3,178

3,178

3,178

Under Contract Properties:

1,565

1,565

1,565

1,565

1,565

1,565

Sold Properties:

1,862

2,947

3,987

4,963

5,992

10,646

Market Absorption:

931.00 Per Month

982.33 Per Month

996.75 Per Month

992.60 Per Month

998.67 Per Month

887.17 Per Month

Inventory:

5.09 Months

4.83 Months

4.76 Months

4.78 Months

4.75 Months

5.35 Months

 

How Many Single Family Homes in Salt Lake County Available

Thursday, August 30, 2012
by Mark and Monte Jones

Following are Absorption reports for homes in Salt Lake County.  The data is comprised of single family homes that are not short sales.  These reports clearly show why buyers in Salt Lake County are facing multiple offer situations and why prices are going up.   The low inventory levels make it crucial for a buyer to use a knowledgeable realtor to maximize the buyer’s chances of getting a home with multiple offers and seller's risk leaving money on the table unless they hire an agent that understands the market and were values are the day they list.    

When looking at the reports remember a healthy market has between 5 and 7 months of inventory available, a buyers market is over 7 months of inventory and a sellers market is under 5 months of inventory available.

If you want market data on your area please call, text or email the Jones Team anytime.

Homes under $100,000 that are not short sales Salt Lake County absorption rates:

 

2 Months

3 Months

4 Months

5 Months

6 Months

12 Months

Active Properties:

49

49

49

49

49

49

Under Contract Properties:

60

60

60

60

60

60

Sold Properties:

91

160

224

281

347

826

Market Absorption:

45.50 Per Month

53.33 Per Month

56.00 Per Month

56.20 Per Month

57.83 Per Month

68.83 Per Month

Inventory:

2.40 Months

2.04 Months

1.95 Months

1.94 Months

1.88 Months

1.58 Months

 

Homes from $100,000 to $200,000 that are not short sales Salt Lake County absorption rates:

 

2 Months

3 Months

4 Months

5 Months

6 Months

12 Months

Active Properties:

510

510

510

510

510

510

Under Contract Properties:

576

576

576

576

576

576

Sold Properties:

651

1,067

1,370

1,707

2,029

3,755

Market Absorption:

325.50 Per Month

355.67 Per Month

342.50 Per Month

341.40 Per Month

338.17 Per Month

312.92 Per Month

Inventory:

3.34 Months

3.05 Months

3.17 Months

3.18 Months

3.21 Months

3.47 Months

 

Homes from $200,000 to $300,000 that ar not short sales Salt Lake County Absorption rates:

 

2 Months

3 Months

4 Months

5 Months

6 Months

12 Months

Active Properties:

730

730

730

730

730

730

Under Contract Properties:

468

468

468

468

468

468

Sold Properties:

569

895

1,186

1,479

1,681

2,866

Market Absorption:

284.50 Per Month

298.33 Per Month

296.50 Per Month

295.80 Per Month

280.17 Per Month

238.83 Per Month

Inventory:

4.21 Months

4.02 Months

4.04 Months

4.05 Months

4.28 Months

5.02 Months

Homes from $300,000 to $400,000 that are not short sales Salt Lake County Absorption rates:

 

2 Months

3 Months

4 Months

5 Months

6 Months

12 Months

Active Properties:

501

501

501

501

501

501

Under Contract Properties:

229

229

229

229

229

229

Sold Properties:

228

389

506

609

694

1,154

Market Absorption:

114.00 Per Month

129.67 Per Month

126.50 Per Month

121.80 Per Month

115.67 Per Month

96.17 Per Month

Inventory:

6.40 Months

5.63 Months

5.77 Months

5.99 Months

6.31 Months

7.59 Months

Homes from $400,000 to $500,000 that are not short sales Salt Lake County Absorption rates:

 

2 Months

3 Months

4 Months

5 Months

6 Months

12 Months

Active Properties:

258

258

258

258

258

258

Under Contract Properties:

88

88

88

88

88

88

Sold Properties:

102

170

225

276

305

513

Market Absorption:

51.00 Per Month

56.67 Per Month

56.25 Per Month

55.20 Per Month

50.83 Per Month

42.75 Per Month

Inventory:

6.78 Months

6.11 Months

6.15 Months

6.27 Months

6.81 Months

8.09 Months

 

Homes from $500,000 to $600,000 that are not short sales Salt Lake County Absorption rates:

 

2 Months

3 Months

4 Months

5 Months

6 Months

12 Months

Active Properties:

129

129

129

129

129

129

Under Contract Properties:

45

45

45

45

45

45

Sold Properties:

54

85

106

124

140

242

Market Absorption:

27.00 Per Month

28.33 Per Month

26.50 Per Month

24.80 Per Month

23.33 Per Month

20.17 Per Month

Inventory:

6.44 Months

6.14 Months

6.57 Months

7.02 Months

7.46 Months

8.63 Months

Homes from $600,000 and Up that are not short sales in Salt Lake County Absorption rates:

 

2 Months

3 Months

4 Months

5 Months

6 Months

12 Months

Active Properties:

341

341

341

341

341

341

Under Contract Properties:

51

51

51

51

51

51

Sold Properties:

52

92

123

148

173

300

Market Absorption:

26.00 Per Month

30.67 Per Month

30.75 Per Month

29.60 Per Month

28.83 Per Month

25.00 Per Month

Inventory:

15.08 Months

12.78 Months

12.75 Months

13.24 Months

13.60 Months

15.68 Months

 

Absorption Report

Wednesday, June 27, 2012
by Mark and Monte Jones

Another Absorption report using just single family homes in Salt Lake County. When compared to the one we posted just a few weeks ago the available inventory continues to decrease!

SELLERS NOW IS THE TIME TO GET YOUR HOME ON THE MARKET!

BUYERS NOW IS THE TIME TO BUY! Before Appraisers catch up to what the market is doing. Call me today for a free market analysis on what your home is worth you might be surprised!

 

  2 Months 3 Months 4 Months 5 Months 6 Months 12 Months
Active Properties: 3,317 3,317 3,317 3,317 3,317 3,317
Under Contract Properties: 1,876 1,876 1,876 1,876 1,876 1,876
Sold Properties: 1,913 2,904 3,690 4,389 5,038 10,118
Market Absorption: 1,894.50 Per Month 1,593.33 Per Month 1,391.50 Per Month 1,253.00 Per Month 1,152.33 Per Month 999.50 Per Month
Inventory: 1.75 Months 2.08 Months 2.38 Months 2.65 Months 2.88 Months 3.32 Months

 

Real Estate Absorption Report for Salt Lake County Single Family Homes

Thursday, June 7, 2012
by Mark and Monte Jones

To the buyers that have been sitting on the fence waiting for the real estate market to recover guess what?  You missed bottom!  It’s on its way back up!  Supply and demand are beginning to work!  Now its just appraisers and conservative lenders holding the lid on prices.   Check out the absorption report done two seconds ago using data from the mls for single family homes in Salt Lake county.  

 

 

2 Months

3 Months

4 Months

5 Months

6 Months

12 Months

Active Properties:

3,359

3,359

3,359

3,359

3,359

3,359

Under Contract Properties:

1,801

1,801

1,801

1,801

1,801

1,801

Sold Properties:

1,852

2,787

3,512

4,145

4,879

10,027

Market Absorption:

1,826.50 Per Month

1,529.33 Per Month

1,328.25 Per Month

1,189.20 Per Month

1,113.33 Per Month

985.67 Per Month

Inventory:

1.84 Months

2.20 Months

2.53 Months

2.82 Months

3.02 Months

3.41 Months

Buyer's there are still plenty of opportunities to be taken advantage of but the best agents are getting buyers the best homes.  Just ask a few of our past clients!   The Jones team constantly monitors new listings and makes our clients aware of them.  Sellers’ thinking about moving up NOW is the time!!!  

Displaying blog entries 1-7 of 7

Contact Information

Mark and Monte Jones
Jones And Associates Realty LLC
7069 Highland Dr. Suite 250
Cottonwood Heights UT 84121
801-635-4663
801-209-6906
Fax: 866-729-0308
Send an Email