Tooele County Counts the Days
My friend Jay Thompson wrote a blog about his Phoenix housing market last week that I thought would be good information for you about Stansbury Park, Grantsville and Tooele home buyers and sellers. Jays info had some cool graphics that I can't put on but I think this will be helpful without being pretty. Anyway, thanks to Jay for coining the "snapshot" Idea.
What is it? The number of current listings in Tooele County divided by the number of sales last month.
What does it do? Shows you on average how much inventory is stacking up in the market place.
Why should I know? Both you and your Agent should know these numbers. If your a seller, It should help you understand proper pricing and If your a buyer It can help you make your case for a less than list price offer.
Active Listings: 471
August Sales: 99
Months Supply: 4.75
According to Wasatch Front MLS then, there is more than a four and a half months supply of homes in the Tooele market. That's not too bad, not yet a buyers market, but leaning in that direction.
If I pull up home sales for the first half of September however, we can see what is a more up to date "snapshot". If September sales continue at there current pace, we can expect less than 50 homes to be sold this month. That would leave Tooele County with almost a nine month supply of houses.
For even a more helpful picture of where you stand, ask your Real Estate Agent to drill down even further and give you a "snapshot" of the supply of homes in the price range of interest to you.
If you don't have an agent, call us we'd be happy to help. 435-840-5029