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Santaquin Utah Real Estate Market

What is Happening in the Santaquin Utah Real Estate Market

Currently we have 133 homes for sale in Santaquin Utah and 25 Under Contract.  The Santaquin real estate market is really moving in Utah County. 

The number of homes for sale in Utah County has dropped from around 4,000 homes for sale this time last year to 2,798 home for sale today.  The inventory is declining and the percentage of sales is rising.  The chart below represents active listings in Utah County and the percentage of listed homes that are selling each month.

The listing inventory has fallen off a cliff.  If listing inventory drops and the number of buyers increase we will see a major market shift.  This is simple economics of supply and demand.  Prices will increase and the market will catch fire again. Here is the information about the Santaquin Utah Real Estate Market.

Santaquin Utah Active Listings

Average Sale Price of Homes in Utah County

The graph below show the average sale price of homes for sale in Utah County.  You can see the average sale price is currently hovering around $200k.  The average sales price has moved from close to $300k per year all the way down to $200k.  This is a huge drop.  I believe the drop is over and the average sale price will increase over the next two years.  The market has been hammered for the past five years and it is showing major life since 2012 began. Do you want more info about the Santaquin Utah Real Estate Market?

Santaquin Utah Real Estate Market

Sales Price of Homes in Santaquin Compared to Sold Price

The graph below represents the median sales and sold price of homes in Utah County.  The closer the sales price is to the sold price the healthier the market.  You can see in 2008 and 2009 these lines were far apart.  The market and prices were correcting downward.  Prices felt more stable in 2010 and 2011 and these lines grew closer together.  Notice in 2012 the median sale or sold is sharply increasing.

If you are buying a home in Santaquin Utah you may want to do it soon.  Rates are low at around 4% and inventory is decreasing.  Prices are also on the rise. In my opinion we are hitting a real estate bottom in Santaquin considering the past five years.  If this is true we may see a short squeeze on prices and inventory over the next few years in Santaquin Utah. 

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