February 2022 - Market Stats

Spanish Fork Market Report February 2022
Days on Market, Average List Price, Average Sold Price, and Number of Sales. If you’d like a more detailed market analysis of your home, contact me! All data was collected from UtahRealEstate.com on March 3, 2022.
 
Comps (comparables) are good for a very short period of time until the market changes again. When a home sells, the comps change!
 
What real estate agents are seeing in this highly competitive, low inventory market is offers going $20-40k over asking price. It is SHOCKING to most people. Offering over asking isn’t the only strategy in this market, as there are other strategies and I recommend using a combination of them to get under contract. I wanted to touch on just “over asking” price for this video. I will talk about other strategies in future videos to successfully go under contract.
 
Any questions? Let me know!

Spanish Fork

Days on Market 20
Average List Price $535,810
Average Sold Price $543,621
Number of Homes Sold 33

Springville

Days on Market 29
Average List Price $642,557
Average Sold Price $637,898
Number of Homes Sold 14

Payson

Days on Market 25
Average List Price $461,531
Average Sold Price $471,496
Number of Homes Sold 24

Santaquin

Days on Market 12
Average List Price $445,633
Average Sold Price $453,363
Number of Homes Sold 28

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