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Today’s Market Report For Payson Utah
Here is a quick market report on homes selling in Payson, Utah. From February 1, 2009 through August 6, 2009, there have been (73) Single Family Homes sold in Payson, Utah and (9) Condos sold in Payson, Utah. The over all average sales price for Single Family Homes in Payson, Utah is around ($186,000.00) and the average Condo sales price in Payson, Utah is around ($133,000.00). There have been (29) Single Family Homes sold between ($50,000.00 to $179,999.00). There have been (15) Single Family Homes sold between ($180,000.00 to $199,999.00). There have been (29) Single Family Homes sold between ($200,000.00 to $749,999.00). As of today there are currently (153) Total Homes for Sell in Payson, Utah. Home with (4) or more bedrooms are winning the race at (47) homes sold, homes with (3) bedrooms came in Second with (22) homes sold and last but not least (2) bedrooms or less are dragging up the rear with only (4) homes sold. After speaking to a few a the other Realtors in this area and the number of inquiries that I have received from Buyers looking to purchase a new home, I honestly believe that we are moving towards an upswing in the Real Estate market here in Payson, Utah, the over all home prices are not going up but the sales are. We are slowly but surely clearing out a lot of the distressed properties in the area, therefore bringing down our inventory.
Some mistakes often made by home owners when pricing their home to sell are as follows:
1. Home owners tend to allow emotional attachment cloud their judgment when pricing their home. Remove all emotion from the sell and look at it as just another Real Estate transaction. (I know, not so easy sometimes).
2. Thinking that since you added or upgraded some items in the home, that you will get back what you put into it. Unfortunately it does not work that way, appraisers will usually only give you a fraction of the cost of the addition or upgrade in his/her appraisal report. (Stinks don’t it).
3. Okay, I would say that this is the worst of all. Pricing the home to high. Seller’s think if they price their home a little high, that will compensate for low offers. Pricing your home to high is like competing in a 100 yard race and giving your opponents (Other home Sellers) a 50 yard head start. You will be constantly chasing your competition (Other Home Sellers) & (Chasing the Market Down) and not only will you lose the race but you could actually lose money. So price your home competitively and beat the competition.
4. Sellers if you are going to replace carpet or paint, remember to replace the carpet with neutral colors (NOT BLUE, GREEN or ORANGE) & when you re-paint, again use neutral colors. Buyers do not want to have to come in and make a bunch of changes. We all have different tastes so lets just keep it NEUTRAL.
Avg. Sales Price: 379,000
Avg. Days on Market: 69
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