How Will 2014 Utah Real Estate Compare With 2013?
This Week I Cover…
- How the 2013 northern Utah real estate market finished up
- How prices compare to the 2007 peak (you might be surprised!)
- What will 2014 look like
- New home for sale in Layton Utah
- Much more…
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Video Transcript
Hello everyone! This is Ann Zieve with the Keller Williams Success Realty and the Northern Utah Home Team here to give you my weekly market update, and Happy New Year! Happy 2014! We’re in a brand-new year, so everybody is asking how did the market finish at the end of 2013, and that’s what I am going to highlight in today’s market update, and then we’ll look at some new, hot properties on the market. So let’s get started. So first, let’s look at the whole State of Utah. How did the State of Utah do in 2013? And the best way to show you is with this home sales graph. This is showing you three things; median sold price, number of homes listed, and number of homes sold. And as you can see, as of the end of last year, prices had really recovered in the State of Utah overall. We’re almost up to the levels of where we were in 2007. This graph goes back 10 years. So prices really spiked up there in the middle of the year. The number of new listings was way up from where it had been in recent past, and number of solds also was way up. So it looks like Utah as a state overall is on the way to recovery in the market, the real estate market.
Let’s look at Weber and Davis County more specifically, and here’s our home sales graph for Davis County and we can see that it looks a lot like Utah with prices spiking in the second and third quarter of last year at $220, almost as high as where they were back in 2007 at the height of the market. The number of solds way up over past years, and I am sorry, that was the number of listed were up and number of solds also were up with most of the strength being in the middle of the year last year and then dropping off for the holidays as less buyers and sellers were in the market. Let’s take a look at Weber County, and here’s the home sales graph for Weber County. We can also see that there was a strong recovery in prices, although not quite to the level of where it was back in the mid-2007, 2008 timeframe, but the number of new listings, the number of solds also were up in Weber County, and then had dropped off as we went into the holiday time. So the big question everyone is going to be asking is what is going to happen this spring, and you stay tuned here, and I will keep you updated as that starts to develop.
Well, let’s look at some new homes that are on the market because they are starting to hit the market now. Here’s a beautiful, new rambler on the market in Layton. This is a five-bedroom, four-bath with a two-car garage rambler. It’s been very well maintained. It has a great floor plan for living and entertaining. The basement is totally finished. You see the beautiful kitchen there. The backyard is totally privacy-fenced with a huge shed that you can put four ATVs in, and more, and there’s an RV pad, and there’s just so much with this home, you’ll want to check it out before it goes fast. Well, that does it for this week’s market update. Remember, if you have any questions, or need more information as you are getting ready to sell, buy, or invest in real estate, give us a call, text, or email, and we’re here to help you with all your real estate needs. Until next week, keep living smart.