Video
Every month we do a market update including numbers from the surrounding counties of Hill AFB. Check out the video below for July’s update.
The Numbers
We compared the numbers from Weber and Davis county to show the trends happening in the market. First, I’ll tell you the numbers and then we’ll go over what they mean for you. According to the MLS, in Weber County the median sold price is $390,000. In Davis County it’s $460,000. We use median sales price because it gives a better idea than an average that includes the outliers. Both counties average 6 days on the market which is what we’ve been seeing for the past few months. Days on market is not entirely accurate because it is measured by when the agent changes the status from active to under contract in the MLS so there could be some lag time. We still use it to get an idea of how fast the market is moving. The number of houses under contract in Weber County is 457 compared to 230 active listings. In Davis County there is a similar trend with 994 under contract and 441 active. So they both have close to two times as many under contract houses than active listings.
What this Means as a Buyer…
So, as a buyer this means that it’s important to be pre-approved and ready to be as aggressive as you can when making an offer. Interest rates are low so it’s a great time to buy. Also, values are still going up so it’s a great investment to buy a home.
What this Means as a Seller…
It is also a fantastic time to sell because the market is constricted so there are less listings than buyers. Because of this sellers are still getting multiple offers and getting to enjoy the equity they have built in their house.
As always if you have any questions text or call us at 801-821-9400. You can also email at coryandrhonda@kw.com.