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January SunCrest Market Update
2015 marked the best overall year for SunCrest homeowners since 2007 thanks to steady demand, attractive interest rates, and a healthy Utah job market. As we start our 16th year assisting families with their SunCrest real estate needs, let’s look back at 2015:
If you recall, last winter was pretty dry (yes, we mean moisture). The lack of flurries in the air could have helped contribute to the fact that sellers got more money per square foot for their homes in this quarter, than at any time all year long. Buyers paid an average of $109.71 per square foot during that three-month period.
Bump. Set. Spike! We see it every year. As the snow melts and families start planning for spring and summer, we see a spike in SunCrest homes coming to the market.
Interesting fact! Did you know that 72% of all SunCrest homes listed in 2015 actually sold? This is up from 63% in 2014.
SunCrest sellers and buyers were feeling like the market was hot, hot, hot! Homes spent an average of 39 days on the market during this quarter, as opposed to the overall 2015 average of 94 days.
SunCrest buyers and sellers didn’t leave as much room for negotiation in the 4th quarter of 2015. On average, homes sold for 98.65% of asking price — over 1% higher than the yearly average.
Our take: We are often asked, “When is the best time to buy or sell in SunCrest?” Our answer is always the same—when you’re ready. Everyone’s timing, housing need, work situation, and/or family decision is different. We believe in arming you with the information you need to make the best decision available. Facts are just facts; but being able to research, understand, analyze, and interpret the facts will help you make an intelligent and informed decision.