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.
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?
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.
