I was curious today about the general movement of the market. I know what it seems to be - great houses priced well are getting multiple offers and selling for full asking price. I wanted to know more than just my current snapshot based on my own clients...so I ran the numbers.
I work and live on the border between 2 counties so I ran the numbers for both. The past three days the market for Weber/Davis Counties in northern Utah looks like this
112 new listings ( I didn't break these down to relisted expired listings so days on market may be more)
83 Under Contract
43 Sold
As you can see the number of homes that went OFF the market in the past three days was well more than the new homes on the market. Given that some of the new listings have already been on the market for 3 months or more it's even more, and these numbers don't count the listings that expired and are no longer on the market. The expired number 38, but I didn't sort those and either add or remove from the 112.
I backed up the numbers to 30 days
762 new listings
616 are under contract
551 sold
Keep in mind those that are market under contract are not yet marked sold...meaning in the past 30 days 1167 homes left the market and only 762 new homes were listed.
For your sellers wondering if it's a good time to sell the answer is yes, and now. I haven't, to this point, been tracking the total active listings. I will begin to track that - that number is 3,063 (Sept 26) today for all of Weber and Davis Counties. That means if that current trend continues we'll be out of homes to sell in less than 8 months. Now - I'm neither an economics major, nor a math major so if my numbers don't add up let me know. Either way, the numbers seems pretty clear that today we're selling more homes than we're listing. Seems like good news for sellers - not so much for buyers. I think I'm going to go make a few listing appointments today.
