Uncategorized November 13, 2019

3rd Quarter Utah Market Report

Follow along: Newsletter | Facebook | Instagram

3rd Quarter Utah Market Report 

We don’t have a crystal ball, but at Windermere we do have a team dedicated to analyzing the market and making predictions. The following analysis of select counties of the Utah real estate market is provided by Windermere Real Estate Chief Economist Matthew Gardner. 
Here are 3 things we found interesting from Gardners Q3 Report
  • …Home prices continue to appreciate at significant rates. I (Gardner) still expect to see some moderation in price growth as we move through the year and into 2020, but Utah will clearly continue to outperform the nation as a whole.
  • The number of homes for sale in the third quarter was only 2.6% higher than in the same period a year ago but was 11% higher than the second quarter of this year. There continues to be significantly more choice in the market, which is good news for home buyers.
  • The average number of days it took to sell a home … rose eight days compared to the third quarter of 2018. The Utah economy is still outperforming almost all other states and this will continue to drive housing demand.

Wondering what this may mean if you’re looking to buy or sell? The market looks different throughout the year so you’ll need a season-specific game plan. Please don’t hesitate to contact us with any questions you may have. 

We hope that this information may assist you with making better-informed real estate decisions.
Our best, 
Scott and Robyn