Saturday, April 11, 2020 / by Elissa Tran
Housing Market & COVID-19 - April 2020
Now that we are almost a month into COVID-19 here in Utah lets take a look at what we are seeing in the market and how homes sales are being impacted.
- We have seen a spike with a level in sales to list %. Meaning homes are selling for higher than the listed price. This is continuous to what we were seeing last month, the homes that are selling are selling for 101% of asking price.
- We have seen a HUGE decrease in the number of days on the market from 35 in January, 27 in February, 13 in March and to just 8 days on market now in April.
- This is showing a decrease in the actual number of closings, limited access to view properties and changing job statuses for many seems to be the cause.
Feel free to give us a call with any questions you have or if you want to discuss what this looks like for you.
My UT Real Estate Group
Associate Broker, Realtor®
Sales Partner, Realtor®