Happy Spring Everyone!
Here is March’s real estate market summary for Tooele and Salt Lake counties. As the weather improves, so does the number of home buyers! Typically April through July are the busiest times during the year for home sales.
If you would like to compare month to month, all of the market summary reports I have created can be found at http://inside-real-estate.com/andreacahoon/.
Tooele County
March 1-31, 2012
Number of Homes Sold: 62
Average Sales Price: $151,789.37
Average Price Per Square Foot: $63.90
Average Days on Market: 117
Tooele County
March 1-31, 2011
Number of Homes Sold: 44
Average Sales Price: $151,713.00
Average Price Per Square Foot: $63.07
Average Days on Market: 141
The Tooele County Absorption Rate report shows we have approximately 5 months of inventory when you include sold and under contract listings together in the equation. If the under contract listings are included with the active listings, the absorption rate increases to about 11 months of inventory.
Salt Lake County
March 1- 31, 2012
Number of Homes Sold: 1,022
Average Sales Price: $218,219.64
Average Price Per Square Foot: $89.55
Average Days on Market: 112
Salt Lake County
March 1- 31, 2011
Number of Homes Sold: 957
Average Sales Price: $218,170.04
Average Price Per Square Foot: $91.49
Average Days on Market: 143
The absorption rate for Salt Lake County is approximately approximately 3 months of inventory when you include sold and under contract listings together in the equation. If the under contract listings are included with the active listings, the absorption rate increases to about 7 months of inventory.
For any of you who have High School Students preparing to take the ACT Exam, there will be an “Ace the ACT” ACT prep course taught by Ann Meeks in June here in Tooele. Space is limited so if you are interested, please contact me for more information.
If you or any one you know is looking to buy or sell real estate, have them give me a call! Also, as a Certified Distressed Property Expert (CDPE) I have specific training to help homeowners in distress work out solutions that will work for them. Please pass my name along if someone you know is having a hard time keeping up on their mortgage payments. If you do not wish to receive these e-mails, please send an opt-out message to [email protected].
Have a wonderful week!
Andrea Cahoon, CDPE, CRS, TCRES, CNHS
RE/MAX Platinum
435-850-8167
Avg. Sales Price: 379,000
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