SunCrest Market Updates January 19, 2021

January SunCrest Market Update

The 2020 SunCrest Market Summary
To say, “What a year,” sort feels like an understatement. We still remember reading headlines in March that predicted a bubble bursting in real estate, declining home values, and a repeat of the late 2000’s. Turns out, we saw the opposite. Outside of a momentary slowdown at the start of the pandemic, the market actually roared back and outperformed previous years—more homes were sold at a higher median price than ever before. With 2020 in the rear view mirror, we’d like to thank you—each resident of SunCrest—for all your encouragement as we provide these monthly updates and for your continuous support and engagement throughout the community. You truly are what makes SunCrest special.

2020 By The Numbers
Total SunCrest Properties Sold: 182
Composition of Properties: 124 Existing homes, 42 New homes, 15 vacant lots
Highest Sold Price: $1,925,000
Lowest Sold Price: $293,793
Median Sales Price: $579,250
Most Active Sales Period: 3rd Quarter – 59 Closed transactions
Median Sales Time: 27 Days

The “Average” SunCrest Home Sold in 2020
Here’s a look at the “average” SunCrest home that was sold in 2020. Of course there there aren’t any “average” homes in our neighborhood, but based on the data here’s what that profile would look like:
Built 2010
4.34 bedrooms
3.61 bathrooms
2.45 garage
.24 acres
Price – $624,007
$156 square foot
61% finished basement
45 days average time to sell

Our Take:
This year will be remembered as the year that changed real estate. Before, buyers and sellers decided where to live based on their jobs, schools, and convenience. With remote learning and a mass migration to work-from-home models, people can now live somewhere they truly love. More and more, that means people are moving to SunCrest for its flexibility and for the lifestyle it offers. Praised locally by hikers, bikers, and adventurers alike, SunCrest is known for those who like to explore. Miles of open space and trails are intertwined with unbeatable community amenities. SunCrest’s unique location above much of the Wasatch Front means you get year-round beauty, and breathable air above the inversion. SunCrest houses are newer, sensible, spacious, and light and as we’ve seen our homes transform into schools, daycares, gyms, movie theaters, and offices. It’s no secret SunCrest offers a perfect mix of desirable houses with desirable lifestyles. You’re looking for an exceptional house, so don’t settle for an average experience. Having a hyperlocal expert in your corner who has their finger on the pulse of this community can elevate your experience far beyond anything that’s just average.