Northern Utah Home Team

Hello everyone! This is Ann Zieve with the Northern Utah Home Team and Keller Williams Success Realty here to give you your weekly market update, and this week we’re going to answer the question is it better to wait until spring to buy or sell real estate, and we’ll also look at some new homes on the market. So let’s get started. So this chart shows sales statistics broken down by month for the year 2013, and you can see the months of the year written out here. This gives you the number of homes sold in the State of Utah for each month. This gives you the percentage of original list price that the sold price was, and then we have the median price per square foot of that sale. And what I would like to point out to you is that during the timeframe of April to August is when the most units of homes were being sold in the State of Utah. Do you see that? And if you look over here, interestingly enough, that’s also when the highest percentage of the list price was paid. So you were paying closer to list price during that time, and you’re also paying more per square foot during that time.

So what this would tell me is that if I were a buyer is that waiting until April through August to buy a home is not necessarily when you’re going to get the best deal. You’re more likely to pay closer to list price. Homes are selling faster during that timeframe which tells me it’s a more competitive market, and you’re going to pay more per square foot. So you might want to buy your home before the market gets hot in that April to August timeframe or after. If you’re a seller what this would tell me is that since statistics show that buyers are on the Internet looking at homes about two months before they are actively walking through homes, you want to be getting on the market now because the hot market is coming in April so February is the time to get your house out there, so you’re exposed to all that Internet traffic of people searching for your home. Give us a call and we’ll be happy to go over this more with you, but these statistics hold for Davis and Weber County just like for the State of Utah.

So let’s take a look at some new homes on the market. First up is this very affordable and move-in ready home in Ogden. If you’re looking for something for under $130,000, you want to check this home out. Look how beautifully refinished those floors are. It’s a four-bedroom home with two baths. The basement is finished. It has a two-car carport, a huge deck off the back with a privacy fence backyard and a shed, so you can relax out there and entertain and enjoy time with family and friends. This home is move-in ready and it is out there for you to take a look at today. If you’re looking for a great property in Davis County in a little bit higher price bracket, you might want to check out this five-bedroom, three-bath home that’s over 3,500 square feet on over a half-acre in Kaysville. Look at that kitchen. I just love this kitchen, and it has lots of upper-end finishes. It has a huge master bedroom suite with a jetted tub, so you can just relax away your cares, and you’re just going to have a great time living and entertaining in this great home. Well, that’s it for this week’s market update. If you have any questions or need more information on anything we discussed, or if you need help buying a home, selling a house or investing in real estate, feel free to give us a call, a text, or an email. Until next week, keep living smart.