SunCrest Market Updates February 29, 2016

February SunCrest Market Update

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Last month, we mentioned 2015 was best overall year for homeowners since 2007 thanks to steady demand, attractive interest rates, and a healthy Utah job market. This month, we forecast into 2016…

Interest rates will rise

Sure, this may not be a bold predication, but one that we anticipate will impact most looking to buy or sell in SunCrest. From news outlets, leading economists, to real estate blogs, the consensus is that rates are forecasted to be above 4.5% by years end. What does REALLY mean? Check out the infographic to see its impact on a home priced at $250,000.

Rental rates will continue to increase as buyers save for their down payment

Low rental vacancies, lack of new construction rentals, and difficulty to save sufficient down payment to purchase a home will continue to drive SunCrest rents upwards. The good news for those looking to buy in SunCrest? Utahns are able to save quicker. In a recent report, Utah was cited as one the best states for buyers to save enough for a down payment—1.46 years for a 3% down payment program.

Stoneleigh Heights will stay hot

The Stoneleigh Heights townhomes have been performing exceptionally well. Since July of ’15, townhomes are going under contract within 3.5 weeks (2015 Avg= 55 Days) and appreciating by 3.9% year over year as compared to 3.6% appreciation in all of Draper. At a current median price of $212,500, these spacious and affordable townhomes are perfect for millennials, boomers and everyone in between!

Our take: 

Despite the forecasted climb to interest rates, 2016 looks to be another year of growth and action in SunCrest. Whether buying, selling, or renting; this year is the time for action if you’re looking to make a change. Plus, with new SunCrest developments on the horizon, we’ll be looking back on this year as a key moment in SunCrest’s story.


SunCrest News February 10, 2016

Draper Open Space – Management Zones

Draper Open Space

Update: The Draper/SunCrest open space plan was adopted 4/19/16. Click here to view the entire plan.  

Draper City held an open space public review on February 9th to reveal proposed plans and a vision for the the Draper open space land on the Traverse Mountain Range.

The open space master plan encompasses nearly 4,000 acres and has been broken down into 4 zones. Each zone aims to identify suitable locations for recreation and conservation activities.

Eagle Ridge

East Hollows

Corner Canyon

West Bluff

Those interested can view the full plan here and submit feedback to Draper City here (Note: the survey closes February 26th).