Utah Real Estate Daily Snapshot Report
Utah Real Estate Statistics through the MLS has a new statistical report, the daily snapshot report. See below the daily snapshot for the entire MLS which cover Salt Lake County, Davis County, and Weber County, the Wasatch Front MLS.
This report about Utah Real Estate provides an overview of listings on a given day or date, even a date range. I show here the report for today, January 8, 2015 which compares active listings, properties that went under contract, (I fortunately had one of those), listing withdrawn, and listing that expired and just went off the market.
Active listings are down 2.17%. Real estate, all types, that went under contract is up 28.63%. I have noticed a sudden surge in buyers, having three offers on two listings this week. These are the first offers on those two condominiums in over three months. Listings withdrawn are up 12.47%. Listings going off the market id up 10.51%.
Having the number of listings down and the number of sales going under contract up so significantly moves me to check out the absorption rate again. I know I just posted that a couple of days ago. 12262/4349 results in a absorption rate of 2.819 which leans to a buyers market. Again, this is the market as a whole and for buyers and sellers to have a meaningful study the rate needs to be calculated based on the market, type of real estate, and price range. Overall, this is an improvement.
Over 1900 homes going off market or expiring should lead those owners to ask what went wrong. Were they priced wrong? Did the agent just put the home in the MLS and let the effort to sell fail? Did the home present itself well? Were there any open houses? What advertising was implemented?
Just for fun I will do this same daily snapshot for Draper, again all prices. See below.
What stands out here is the fewer number of Draper homes for sale that are withdrawn or go off the market. Active listings are down 13.88% and under contract also down – 14.49%.
Any of us at MediaOne real estate are able and willing to help you, whether you be a buyer or a seller to analyze your particular market for you. These Utah Real Estate Statistics are just a couple of those that are valuable to asses when buying or selling a home. Another would be to see what activity is going on in your price range. Are sales more active a little higher than you were planning on? Should you drop a bit to jump into a range where a lot of things are happening? Statistics, Utah Real Estate or any market are a valuable exercise in making your home buying or selling decisions. Give us a call.