February 2011 Utah County Housing Statistics

Housing StatisticsInventory continues to decline as February indicates a 25% decrease, bringing us to 19.3% year-to-date. This has also brought our months supply of inventory down to 9.5 months, bringing us even closer to a balanced market. The best news in this report are that closed sales are up 2.8%. This is especially good news when you consider that last year sales were up due to the federal government’s tax stimulus program. So this is a welcome sign to see the market improving without tax incentives. For more interesting insights into the market check out:
When Supply Is Down, Demand Goes Up!

Utah County Housing Market Statistics February 2011The median sales price continued to decline, but is no longer below the state average. With the inventory down, we should start seeing the median sales price begin to increase.

Utah County Median Closed Sales Price February 2011

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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 February 2011 Utah County Housing Statistics

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

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