Rising prices not with standing, homes in May sold like
hotcakes, This May, all 54 metros tallied months’ supply of inventory at or less than six months—a figure indicative of a seller’s market.
OPEN HOUSE SCHEDULE
Date Start Time End Time
06/23/2018 10:00 am 12:00 pm
This home was built by SEGO Homes, which is one of the few builders that builds GREEN, HEALTHY & A SMART HOME. The 'Home Run' floor plan is an amazing design. No need to wait several months to build, and risk moving in the winter snow....when you can move in now! With over $20K in upgrades, this is one you won't want to miss!!
Homes sat on the market an average of five more days (51) in May 2017, 12 more (58) in May 2016, and 18 more (64) in May 2015. The metros boasting the lowest DOM were San Francisco and Seattle, Washington, at 19; Denver, Colorado, at 21; and Salt Lake City, Utah, at 25.
Crimped inventory and crushing demand from homebuyers slashed days on market (DOM) to 46, the second-lowest monthly amount in the report’s 10-year history, the report say
May sales outdid April’s by 14.5 percent; they fell 2.8 percent from May 2017. The median sales price: $251,673, up 7.8 percent from May 2017 and 2.1 percent from April of this year.
“Even with low inventory and the Federal Reserve raising interest rates, homes are going from ‘for sale’ to sold 28 percent faster than three years ago,”
What’s more, the number of for-sale homes in May marched ahead 4 percent from April but slipped 9.5 percent from May 2017. Based on this May’s home sales rate, months’ supply of inventory stayed flat from April at 2.5 months and contracted a tad compared to 2.6 months in May 2017.
Such a sizzling market, house shoppers should plan on competing with other would-be buyers when making an offer on a property.
“Be prepared—that’s my message to potential homebuyers in this summer selling season,” he said. “Make sure you are pre-approved with a lender, try to make a clean offer with no contingencies, and, if possible, consider offering favorable concessions to the seller such as a flexible closing date.”
We realize the decision to Sell or Buy is a personal one that depends on your financial situation, future plans and lifestyle. If you’re interested in a wealth of information and 18 years of experience to help you get started visit us at Precision Realty & Assoc. LLC or if you prefer a more personal touch, CALL 801-809-9866 today.
#RealEstateForSale #Homeownership #UtahRealEstate #Openhouse
OPEN HOUSE SCHEDULE
Date Start Time End Time
06/23/2018 10:00 am 12:00 pm
This home was built by SEGO Homes, which is one of the few builders that builds GREEN, HEALTHY & A SMART HOME. The 'Home Run' floor plan is an amazing design. No need to wait several months to build, and risk moving in the winter snow....when you can move in now! With over $20K in upgrades, this is one you won't want to miss!!
Homes sat on the market an average of five more days (51) in May 2017, 12 more (58) in May 2016, and 18 more (64) in May 2015. The metros boasting the lowest DOM were San Francisco and Seattle, Washington, at 19; Denver, Colorado, at 21; and Salt Lake City, Utah, at 25.
Crimped inventory and crushing demand from homebuyers slashed days on market (DOM) to 46, the second-lowest monthly amount in the report’s 10-year history, the report say
May sales outdid April’s by 14.5 percent; they fell 2.8 percent from May 2017. The median sales price: $251,673, up 7.8 percent from May 2017 and 2.1 percent from April of this year.
“Even with low inventory and the Federal Reserve raising interest rates, homes are going from ‘for sale’ to sold 28 percent faster than three years ago,”
What’s more, the number of for-sale homes in May marched ahead 4 percent from April but slipped 9.5 percent from May 2017. Based on this May’s home sales rate, months’ supply of inventory stayed flat from April at 2.5 months and contracted a tad compared to 2.6 months in May 2017.
Such a sizzling market, house shoppers should plan on competing with other would-be buyers when making an offer on a property.
“Be prepared—that’s my message to potential homebuyers in this summer selling season,” he said. “Make sure you are pre-approved with a lender, try to make a clean offer with no contingencies, and, if possible, consider offering favorable concessions to the seller such as a flexible closing date.”
We realize the decision to Sell or Buy is a personal one that depends on your financial situation, future plans and lifestyle. If you’re interested in a wealth of information and 18 years of experience to help you get started visit us at Precision Realty & Assoc. LLC or if you prefer a more personal touch, CALL 801-809-9866 today.
#RealEstateForSale #Homeownership #UtahRealEstate #Openhouse
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