It is impossible to list all the amazing things about this Farmer’s Market in Salt Lake. Being a realtor in the Salt Lake area I see what kind of pull and attraction it has for Salt Lake homeowners, residents and prospective real estate purchasers. It is one of the larger Farmer’s Markets in the area and just filled with such incredible treats, produce, and plenty of “Utah atmosphere.”
A few things that stick out about the Salt Lake Farmer’s Market as well as all the others across the country.
1. Less gas getting products to market place is better for the environment and on our pockets since food that travels far tends to be higher in price!
2. Supporting our local farmers and economy. This is good for our Salt Lake area communities and our Salt Lake area real estate market.
3. Less preservation and chemicals needed on our food since we can buy fresh from the local farms. That is good for our health and our environment.
You can find more details on the Farmer’s Market in Salt Lake here.
Both nationally and here in Utah, the real estate market is receiving a lot of media attention as inventory has been climbing and prices have been decreasing. Both factors are signaling that we are moving towards a buyers market.
People often ask if this is true in our Utah real estate market. Although, we have been shielded a bit, fairing much better than that displayed in much of the national real estate statistics, we are still moving away from being within a true seller's market. Periodically, the average Utah prices, increases, and decreases have been featured in this blog. If you are interested in reading on that kind of detail, please visit some of my other posts.
For today though, I am answering a question that I often get, which is, "Is it really a buyers market in Utah and what does it mean?"
Well it does mean some of what I have already listed above
•- Rising housing inventory in Utah
•- Decreasing home prices
•- Good Interest rates both nationally and locally
•- And negotiations in favor of the Utah buyer
I have included some statistics below which show how over the last couple of years the real estate negotiating process has been moving in favor of the buyer. The percentages are based on the sale price relative to the list price. This is a sure sign that we are moving towards a buyer's market, as well as showing that it is a great time to buy. Buyers have great negotiating power right now!
Percentages based on sales transactions between January and April of the corresponding years.
Sale Price as Compared to List Price
|
County |
2008 |
2007 |
2006 |
|
Salt Lake |
97% |
99% |
99% |
|
Utah |
97% |
99% |
99% |
|
Davis |
98% |
99% |
99% |
|
Summit |
93% |
97% |
97% |
As a whole the real estate market in the state of Utah had a 1.2% decline in the number of sales as compared to Quarter 1 2007. But overall, as you can see from the numbers above, the majority of our area communities are still hanging in there despite the historical decline. For more information about what these real estate statistics may mean for you if trying to buy and sell, please feel free to give me a call. I'd love to give you an analysis of where you would fit into the current Utah real estate market.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
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