SunCrest Market Updates January 27, 2017

January SunCrest Market Update

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 2016 SunCrest Real Estate Review

With 2016 now in the books, it’s a good time to reflect on the last year, and look ahead to the next. In 2016, we saw the highest levels of activity in a decade. Homes sold more quickly, inventory was scarce, and interest rates remained low. Like you’re annual checkup with your doc, here’s the report on the last year of SunCrest real estate.

SunCrest Homes sold quicker
In 2016, SunCrest homeowners saw their homes spending less time on the market. The average days spent on the market was 53 days, nearly half (91 days) of what it was in 2015.

2016 SunCrest Market Summary

2016 SunCrest Market Summary

SunCrest Inventory was scarce 
Months supply of inventoryBuyer demand continues to outpace the supply of homes for sale. Nationally, year-over-year inventory levels have dropped each of the last 18 months. Inventory now stands at a 4-month supply, well below the 6-month supply needed for a ‘normal’ market. In SunCrest, we are below a 2-month supply and have been for the past year. Based on this theory, if nothing else was listed and the current demand remained the same, every home currently on the market in SunCrest would be sold in 2 months.

 

Interest rates remained low
2016 Interest RatesIn addition to rising home prices and limited inventory, mortgage rates were a hot topic in 2016 resulting in an active real estate market. The presidential election, however, did impact rates. Rates increased nearly three quarters of a point (or  approximately 3.5% to 4.25%) but have since stabilized. Further, citing an improved economy and further job growth, the Federal Reserve recently raised interest rates. It’s anticipated they’ll do this three times, in each of the next two years.

 Our take: 

We are often asked, “How’s the market?” Our answer: “Which segment of the market? Townhomes? Custom homes? Starter? Move up?” Depending on what segment may impact the answer. Townhomes are selling in a matter of days, whereas the average time for half million dollar and above homes is nearly double (or triple!) the average of all SunCrest. And new construction? Well, you get the point. It certainly can be a good time to buy or sell, but everyone’s timing, housing need, work situation, and/or family decision is different. We believe in analyzing and arming you with relevant information to make an informed decision specific to your needs.


Our SunCrest Market Update is a hyper-local analysis of the most up-to-date information regarding the SunCrest real estate market.  The previous month’s SunCrest housing information and future editions are released monthly.

SunCrest Homes January 27, 2017

14786 S. Golden Leaf Court | Above it all

$639,500 | 4,988 sq. ft. | 6 beds | 3.5 baths

Mind if we start by bringing up a dirty secret? Yes, we mean the inversion, and it’s not so secret: the air in the Salt Lake Valley can get el-yucko.

Well, breathe easy. In this SunCrest home you’ve got almost a half-acre of fenced, landscaped yard to wander around, and it’s full of fresh air, above the ick.

Take five on the Trex deck, fill your lungs with clean ohhh-2 or just look at the views of the city out the window when there’s a break in the weather.

14986 S. Golden Leaf Court

Speaking of indoor views, we were smitten when we saw the main floor family room. Sky high ceilings, an abundance of windows, and a dazzling fireplace.

The current owners rave about the home’s balanced floorplan, and it’s easy to see why. Kids, pets, or unruly family members are no match for the sturdy and stylish flooring that spans the main floor.

Photo-Steadman38-Great Room-0144

That kitchen. Bring it on, top chefs!

The master bed and bath are equal parts open and bright, as it’s cozy and quiet. Your wardrobe doesn’t stand a chance of filling up master closet, it’s huge.

Overall, at nearly 5,000 square feet, five bedrooms (we like the sixth as an office), 3.5 bathrooms, home gym, newer carpet, paint, and some of the most organized, detailed, and cleanest owners we’ve met, you can R-E-L-A-X – this home is ready to fit your family’s lifestyle.

 

SunCrest DevelopmentSunCrest News January 19, 2017

Edelweiss in Draper | Phase 1

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Candlelight Homes is expected to officially release their first phase of the Edelweiss subdivision in the SunCrest area this month. Prices will start in the high $300’s. This phase is the first of a multi-year, multi-phase development located North and East of the existing Stoneleigh Heights townhomes.

Below you find the first phase and preliminary pricing for the Edelweiss subdivision. Check back often as pricing, availability, and new phases being are updated.

You can view future Edelweiss phases here and sign up for future SunCrest development news here.

If you’re interested in building in Edelweiss, we believe putting a Realtor on your side when building a home is the smartest move you can make to ensure you dream home doesn’t become a nightmare. As SunCrest resident realtors, we’re hyper focused on the area and can help you decide if building is right for you, advise you on building the right house for your needs, act as a buffer between you and the builder, and help you avoid potential (and sometimes costly!) mistakes in the building and purchasing phases.

Contact us today for a consultation on what we can together to help achieve your homeownership goals. No obligation, it’s just what we do.

*Information obtained via Draper City and Candlelight Homes. Subject to change without notice.