UtahCribs Weblog

Real Estate, Homes, News, Statistics and more

Update on the SLC Market

Posted by UtahCribs, Real Estate, Homes on February 10, 2009

Sorry to spread the chain but I can’t resist adding some more great news.

After the “doom and gloom” Realtor breakfast a Little America last Monday I felt a little bothered that no speaker wanted to be FORWARD thinking. Accordingly I asked myself, “How can we as agents statistically project the future?”

ANSWER: under contracts

Get this: In county code # 1 (SLC) FROM Oct 31st 2008-Jan 1st 2009 Every 5 days there was an average of 38 homes going under contract. THAT’S BAD…..no wonder our closing were SO down in NOV, okay in DEC and bad in JAN.

Here is the kicker: I am sure MANY of you have felt you are SUPER busy the past 3-5 weeks and wondering “WHAT IS THE MARKET GOING TO DO?”

I will TELL YOU!

Same AREA, county code # 1 from Jan 2nd – Feb 6th every 5 days an average of 148 homes have gone under contract! YES, up almost 4 times what is was during the holidays!

Now, I am not advocating the HUGE boom in prices or an amazing turn around. But let the REAL stats speak for themselves……4 times the amount of homes are going under contract right now that there WERE over the late fall/holiday season.

Mark my words…..it will take the media 4-8 weeks to catch onto this and then reports will start coming out that our housing stats are improving. WE AS AGENTS see it first and LIVE it….and it’s our job to inform everyone else!

Hope this brightens your day–

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