Real Estate functions in a cycle – both seasonly and throughout the years – and now is no exception. Most people will wait until the news tells them the best time to list or buy. However, by the time you hear that information it’s likely the market will already be in a different cycle and no one can predict when the market will change.
Back in the summer of 2017, people found that the market was in a good place to sell their homes. Because of that reaction, we saw our inventory go up and therefore the market was in a good spot for buyers.
Now that we’re in the new year, we are seeing it lead us into a new curve of the cycle where our inventory is very low and it’s hard for buyers to find that home that meets their needs. That being said, right now is the perfect time to start listing and selling your homes instead of waiting until April. If you list now, you will be ahead of the game and will have better success in selling your home.
According to realtor.com, The New Gold Standard: 10 U.S. Housing Markets That Will Rule 2018 states that Salt Lake City is ranked number six with median home price at $360,828, predicted sales growth at 4.6% and predicted price growth at 4.5%. “People are going to continue to seek out pockets of affordability that remain in the market… a lot of these places are more affordable than surrounding areas, yet still have strong economies.”
The time to list your home is now. The market of potential buyers is getting bigger by the day. Living in Salt Lake County and surrounding areas gives a lot of opportunities for buyers and a quick sale for those wanting to sell.