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4th Quarter Utah Market Report
Cheers to a happy and healthy 2020. Hope you are off to a great start to your year. As you know here at Windermere we 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.
- The number of homes for sale in the final quarter of the year was 14.4% lower than in the same period a year ago and 21.3% lower than the third quarter of 2019.
- The average home price in the region continued to rise in the fourth quarter, with a year-over-year increase of 9.5% to an average of $403,186.
- Inventory levels remain low, even in the face of modestly increasing market time.
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.
Scott and Robyn