Market Report-3rd Quarter, 2017

MARKET REPORT-3rd QUARTER, 2017

 
 

Utah County median home price is up by $51,000 over the last 2007 peak price. 

Salt Lake County median home price is up by $57,000 over the last 2007 peak price. 

Interest Rates are around 4.0% depending on which loan you go with. Some are as low as 3.625%

67% of the homes listed in both Salt Lake and Utah County in the 3rd quarter of 2017 sold. 

in 3rd quarter of 2015, 80% of the homes listed  in both counties sold so we see that our market has softened a little bit. 

I estimate prices rising by 2-3 percent until next 3rd quarter of 2018 and I believe that will be our peak. The market will very slowly decline just a but while still maintaining supply and demand ration around 60-65%. The prices will only come down a tad because rates will go up causing buyer's to max out how much they can afford. 

CAN PRICES KEEP GOING UP FOR WHILE? 

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Devin Haub1 Comment