January 2011 Utah County Housing Statistics

We are seeing an interesting dynamic right now with inventory down and sales up. Buyers are having a tough time finding homes. This has actually brought the market very close to a balanced market with only 10.1 months supply of inventory. The median and average sales price have continued to drop as first time home buyers continue to dominate the market place. The good news is that we saw an 11.4% increase in closed sales from January 2010 to 2011. This has been evident as I have spoken with REALTORS® around the county who have indicated an increase in activity that they normally don’t see in the winter months. Buyers are clearly scrambling to to take advantage of the low interest rates.

January 2011 Utah County Housing Statistics

The median sales price was making a comeback but has dipped back down slightly, again indicating the buyers are focusing on homes priced in the lower spectrum of the market.

January 2011 Utah County Median Sales Price


About utahREpro

Chris is the managing broker for Prudential Utah Elite Real Estate in American Fork, Utah. His passions include spending time with his family, Real Estate, Social Media, traveling, reading, movies, golf, dirt biking and so much more. Chris is a graduate of the National Association of REALTORS (NAR) Leadership Academy as well as the Utah Association of REALTORS (UAR) Leadership Academy. He has served in many capacities in the real estate industry at the national, state and local levels, including: 2013 Treasurer of the Utah Association of REALTORS 2011 President of the Utah County Association of REALTORS (UCAR) 2011 REALTOR of the Year – UCAR NAR Federal Political Coordinator assigned to US Senator Mike Lee 2011 NAR Strategic Planning Committee 2010 – 2013 NAR Public Policy Coordinating Committee 2011 Dean of the LeadershipUAR Program Chris has been a licensed REALTOR in the State of Utah since 2004. He has been recognized both nationally and locally by Prudential and was inducted into their Hall of Fame in 2010.
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One Response to January 2011 Utah County Housing Statistics

  1. Pingback: When Supply Is Down, Demand Goes Up! | utahREpro

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