The number of homes for sale in Eagle Mountain Utah typically fluctuates between 50-100 available homes. The Eagle Mountain Utah real estate market was slow between 2007-2011. The market was full of Eagle Mountain Utah short sales and Eagle Mountain Utah bank foreclosures. In fact, during these years about 50% of the homes were distressed properties. However, at the begining of 2012 the Eagle Mountain Utah Market started moving again and prices started increasing thru 2013 and 2014. Paul Teasdale the principal broker of Team Teasdale Realty makes regular youtube videos about the current Utah County Market Conditions. This video is very relevant to the Eagle Mountain Utah Real Estate Market. I encourage you to watch it and familiarize yourself with the current direction of the Eagle Mountain market. If you have specific questions about the real estate market feel free to contact Paul Teasdale directly. Contact Paul Teasdale
The Eagle Mountain UT market trends contributes to the determination of fair market value. For example, if pricing a Eagle Mountain property for sale, the laws of supply and demand apply. In a seller’s market, the supply of real estate property is lower than the demand of qualified buyers. Therefore, the fair market value in a seller’s market would be higher. In a buyer’s market, the supply of real estate property is greater than the demand of qualified buyers. In that case, the fair market value would be lower. It is important to understand if the Eagle Mountain Utah market is a buyer's market or a seller's market. If you are a buyer or a seller in Eagle Mountain you need to know the current market trends. Feel free to conact Paul or one of his Eagle Mountain Utah Realtors for an update of the current Eagle Mountain UT market trends.
Ideally, you should buy a home in the off real estate season. The Eagle Mountain Utah Real Estate market is in it's prime from March to November. After Thanksgiving sales slow down until March. Buyer's are busy doing other things during December and they are just not in the mood to shop in January. The phones at Team Teasdale Realty start going nuts in March. A little warmer weather and everyone wants to buy a Eagle Mountain home at the same time. It is important to understand their are still buyers in the Eagle Mountain Utah Real Estate Market only about have as many as the other months. Finding the perfect market conditions to buy a home is a little harder and riskier. You could decide to wait to buy a home because prices went up, but then prices go up further and you can no longer afford a home in the area you want. As long as you plan on living in your home for 10-plus years, buy a home when you want to and where you want to, as long as you stick to your affordable payment range.
Eagle Mountain Utah Home Sales remain stable. Sales slightly increase from 2011. We had 227 homes sell in the first half of 2011. However, this number was slightly higher at 244 in 2010, and 211 in 2009. The slowest year for Eagle Mountain was in 2008 with only 185 homes selling in the first half of the year. The average price has been declining over the past few years.
2007: $219,180 2008: $214,587 2009: $193,104 2010: $179,699 2011: $163,664 2012: $167,276 Prices have been dropping in Eagle Mountain for quite some time. It appears the decent may be over when you look at the numbers. The average price has increased in 2012 over 2011. I realize this is a slight increase but the decline appears to be over. It is possible the market will move into a stable market where prices start increasing. The graph below represents all homes sold in Eagle Mountain UT by Realtors in Utah County over the past few years. This graph represents all homes sold and not commerical, multi-unit developments or lots.
The Lehi Utah market is still moving. 369 homes sold in the first half of 2012. Compare this to 2011 with 385 during the same period and 380 in 2010. The real estate market in Lehi has been one of the strongest in Utah County. Lehi has outsold many other cities in Utah County.
