In our sales meeting this morning, we had a good article about the market with stats from the Salt Lake County Board of Realtors and the Utah County Association of Realtors.
Utah Business Magazine reports a 19% jump in home and condo sales for February 2008 in Salt Lake County. It bears noting that the 19% jump was up from January of 2008 but those February numbers were still down 35% from February of 2007. There were 744 transactions with a median sales price of $225,000 which is a very good not over-inflated price. Also, that jump follows 3 months of decline.
Utah County has total home and condo sales of 290 transactions for a 4% jump from January with a median sales price of $205,000.
Overall, inventory is climbing slightly as it always does this time of year, but our office inventory is down a bit. We are so good at selling our own inventory that we are having a tough time increasing our inventory. We talked quite a bit about expired listings and for sale by owners being our best ways to increase inventory, especially as we are so good at getting them sold!!
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