In order to see what the trends are in any real estate market you really need to look at how the numbers are trending. Current numbers or recent numbers are important to see what is happening in the market. In this series of posts I want to write what has been happening in the past year, 90 days and 30 days. The real idea is to show what the market is doing in any particular city.
I have mentioned that I love South Davis County! I really do love the entire area! I will do a series like this on each of the cities in South Davis County. I am beginning with Woods Cross. The information in this particular post contains the information on the activity of the real estate market for the past 90 Days.
In Woods Cross there have been 40 Homes sell in Woods Cross. These homes had a median sales price of $222,400. This shows an increase in the median price of homes that sold in the past year of $6,400. So it would appear that prices are trending upwards. As these post is a contrast of information on the homes that have sold, and homes that are showing active for the past year, will show the same information on the past 90 days.
The lowest price on a home that sold in the past 90 days that I could find is $118,299. The highest price on a home that sold in the past 90 days is $412,000. The lowest price is up nearly $18,000, the home that sold at the highest price is down $28,000. From this information we see that homes selling in the lower price ranges are trending in a slight climb.
The number that is just astounding is the Median Days that these homes that sold were on the market, in the past 90 days that number is 9 days! This is showing that homes are really getting accepted offers very quickly! There are 25 active listings on the market today, yet 40 homes sold in the past 90 days, that shows that at current sales levels, there is about a month and a half on inventory for sale in Woods Cross!
These numbers are showing that homes are selling quickly, especially those homes in the under $250,000 range. Sellers wishing to sell, there may be no better time to sell your home! Sellers this is also why you need the expertise of a quality Realtor to price your home correctly, make sure that only qualified, ready and able buyers are being shown your home. Another reason to hire a qualified Realtor is, of course to help and steer you through the negotiation and closing of the contract.
Buyers, this shows that there is no time to be indecisive! We are very much in the if you snooze, you will lose real estate market. This means that if you want to buy in Woods Cross, you really need to be ready to go. You will want to have secured your financing by speaking with a lender and having everything in place with them. It also means that.