05 February 2007

Is the Tooele County Real Estate market slowing down?

The question was raised Yesterday, is the Tooele County Real Estate market slowing down?  What brought that on you say? Well we were going through the Wasatch Front MLS today, as we do every day, and  found that only 2 homes were listed in Tooele County over the weekend.

For those of you that check the website every day, and have for a while, you may be noticing something of a trend in this direction over the last couple of weeks.

The question I would ask is, is this our every January Tooele home sales slowdown, or is this a sign of the "bust" that the national media has been telling us about for the last 6 months?

I guess my answer would be, a bit of both.

 However, I don't see us "busting" any time soon. National Real Estate economists have called Utah a "No Boom" gainer, meaning that we actually had healthy gains over the last year or so compared to the out of control appreciation other states have seen. My favorite analogy has been that the "markets that stayed at the (appreciation) party the longest, will have the biggest hangover". While homes in Tooele City, Stansbury Park and Grantsville UT have shown a nice appreciation curve it was well within the range of expectations.

As usual, Utah didn't really "party"!  What this means to us, is that while we will likely see a bit of a slowing of the amazing appreciation we've seen, our trends will still be upward.

We are starting to actually see some negotiating on Tooele homes, which is a welcome change from the "land rush" of offers for every home listed within hours, but we're still not seeing a ton of inventory. But, don't be shocked when things take off in March and April! It's a great time to buy or sell Tooele County Real Estate!

If you have Real Estate questions, give us a call 435-840-5029 ask us, or tell us, Is the Tooele County Real Estate Market Slowing Down?

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