All Forum Posts by: Alan Walker

3-4 Days on Market for homes under 700,000 in Salt Lake County. Our inventory continues to creep up. Buyers are still gobbling up anything hitting the market. I do see price reductions at higher price points as sellers start to learn that the sky isn’t the limit. Who’s checking out an open house this weekend?

You know that moment in Groundhog Day where he finally realizes that he’s going to keep repeating the same thing, over and over and over? Yea, that’s what this post feels like. Inventory is hovering above 500, compared to 300 earlier this year, and days on market are still in the low single-digits. Now that we’re dipping our toe into September, there are no signs of buyer demand slowing down. I have seen more wholesales and listings with price reductions, which doesn’t necessarily mean correction as much as coming back to reality. In a market that hasn’t made much sense for the last 2 years, I’ll take some reality wherever I can find it!

Still strong numbers (in the mid 20%!) in terms of appreciation for all counties. Our inventory has loosened a bit so more buyers are getting into houses. It is to be determined if this incredible appreciation can continue. No one thinks this can go on forever. Many landlords are cashing in on the appreciation and liquidating. If that’s you, let me know. I have some great strategies for selling vacant homes or tenant-occupied homes.

Our inventory is creeping back up over 500. As we move into September the hope is that we stay at this level to give buyer demand a chance to catch up with supply. A whopping 7 days on market? Holy cow, the world is ending. A WHOLE WEEK before going under contract? What is this, 2018? Pffft.

The school year has started which in a normal year marks the beginnings of our seasonal slow down. But, “normal" was SOOO 2019.

5 days on market for homes under 400,000? What’chu talkin’ bout Willis?

Inventory is a bit lower than last week but nowhere near as low as earlier this year. More buyers are getting under contract, and people are getting a chance to “think about it,” like an hour instead of 20 minutes, before making an offer.

The smoke is clearing and inventory is up. For Friday the 13th, I’m feeling pretty lucky! We’re above 500 available homes again with a nice bump in the lower price ranges. Our days on market is still very low, which tells me that the increase in inventory is getting snatched up by existing buyer demand quickly. While multiple offers are still happening, they are much more likely to be in the single digits. I overheard an agent say, “I don’t get it, we’ve been on the market 5 days and no offers yet” Gasp! The market must be shifting! No Mary, the market may be returning to some kind of normal. Don’t jump off a bridge just yet.

Our inventory remains a bit higher than earlier in the year while days on market remain low. Fewer offers on homes mean buyers have better chances of getting a house under contract. Offers are still very strong and above asking. Everything this year has felt off by a couple of months, so it’ll be interesting to see if we see a Q4 bump in inventory.

Our trend continues, 26-30% appreciation July 2020-July 2021 across the Wasatch Front. Inventory is starting to rise, and fewer offers are being seen within the first week on properties. Yet, multiple offers are still happening with some price reductions occurring at higher price points. July is traditionally a slower month as more people are enjoying their summers. If you were trying to buy earlier in the year, get in now; this is a window where you have a better chance at getting a home under contract. And if you are thinking about buying, DM me; I know a guy. Wink wink.

Days on Market are up!……..to 4 days. Many people are asking if the market is shifting because we have a bit more inventory and less offers are being submitted on homes. While moving from 300 to 500 and now just above 400 active homes under $700,000 sounds like an increase and homes are “only” getting 3-5 offers instead of 10-15, it does not indicate a “slow-down” or “shift.” It's July people. Remember that whole year where no one could take a vacation? Sun's out guns out, not as many people are offering on homes. This is actually normal. Remember normal? Yea, me either.

Holy moley we’ve got some inventory! First time we’ve had over 500 active homes all year. Days on market are still extremely low as hungry, hungry buyers gobble up everything that is hitting the market. Our inventory is still low, it's like going from starving to eeking by, an improvement but lots of room to grow.