Lies, damn lies, and statistics! Tooele County 3rd Quarter sales
If you watch the national, or even the local media, you may understand why I've been a bit apprehensive about seeing these Tooele County Home Sales numbers.
Even though my own personal market barometer (how much is the phone ringing!) was telling me that things were getting a little more "back to normal" in Tooele County, or at least what passes for normal! The third quarter sales numbers of Homes Sold In Tooele County generated by the Wasatch Front Regional MLS seem to bear that out.
For the 3rd quarter of '08, actual single family home sales in Tooele County were off about 17% from the same time last year. Average days on market jumped over 102%, which may sound like a huge jump, until you realize that we are still looking at 89 days. That's just back to '04 numbers. Also, the difficulty in getting loans done quickly may be contributing to that as well.
The big surprise is that average sales price on homes is actually UP a tick!
These numbers are showing up in several Utah Counties, with some of the larger Counties seeing double digit sales increases.
I haven't separated these numbers yet to see how Tooele City, Grantsville and Stansbury Park are doing individually, as WFRMLS doesn't do it that way, but I'll have them out soon.
On the listing side, the number of new listings is down about 20%, which takes it back to '05-'06 levels. To me however, the fun number here is that the average listing price is down over 4%, which breaks a long cycle of 20%+ increases going back to '05. There are a lot of factors impacting that number, not the least of which is an increase in short sales and Bank-owned property, but I'm also seeing sellers being more realistic and agents giving good advice, which hasn't always been the case of late. However, it's still a buyers market as evidenced by the 14k difference in average list to average sales price of Tooele homes (211k-225k).
What does all this gobbledeegook mean to you and me? How about a 60 THOUSAND DOLLAR ADVANTAGE in Tooele County over the Wasatch Front? I'm sitting in Tooele City at this moment and in 35 minutes I can be in downtown SLC! Most people in the Salt Lake Valley can't say that! Couple that with the small town atmosphere, and Tooele County is still an unbeatable place to buy a home!
If you'd like to see hundreds of homes listed for sale from the comfort of your own home, stop by our website @ Tooele Homes for Sale and get photos, prices, maps and home purchasing information thats the same as Realtors use to search for homes.
Call us @ 435-840-5029 if you'd like to talk about Lies, Damn Lies, And Statistics in Tooele County 3rd Quarter Sales.