Inventory in the Wasatch Front real estate market is up, creating challenges and opportunities for buyers and sellers. Find out how you can make the most out of it.
The real estate market in the Wasatch Front is continuing to evolve this July. Inventory levels have increased significantly compared to the same time last year, offering more options for buyers and introducing new dynamics for sellers to navigate. These developments are creating both challenges and opportunities, depending on how well you understand the current conditions. Here’s a look at what the numbers show and what they could mean if you’re planning to buy, sell, or invest in today’s market.
Increase in inventory. Active listings have risen from just over 10,000 to more than 13,000 statewide. In the Wasatch Front specifically, there are now just over 7,000 active properties. This increase means buyers have more choices and greater flexibility in their search.
“A strong strategy matters more than perfect timing.”
This shift is neither strictly positive nor negative, but it does mark a change. At the height of recent market activity, inventory was extremely limited, with only about 1,900 homes available. The current environment is different, and understanding what that means is essential for both buyers and sellers. Anyone looking to sell will also be entering the market as a buyer. Trying to time the market rarely works. What does work is making informed, well-researched decisions using the most accurate and up-to-date information available.
Overall market. By analyzing the data and preparing effectively, it is possible to uncover strong opportunities on both sides of a transaction. Buyers are active, and serious offers are being submitted. Inventory is up 33% year over year, and the average number of days on market has increased by 26%, currently sitting at around 40 days. However, listings that are priced right, well-maintained, and marketed strategically are still selling in under 30 days.
Preparation is key. A consistent approach and proven system are essential to succeeding in this market. A detailed selling plan, such as a 151-step process, can help sellers secure the best price in the shortest timeframe. Homes that remain on the market too long are at greater risk of losing value.
The importance of correct pricing. Recent trends show that overpriced homes, particularly those listed above $1 million, are often receiving offers closer to the high $800,000 range. These properties were never realistically valued above $1 million. The real issue is incorrect pricing. This reinforces how crucial it is to understand a property’s true market value. Success today requires accurate local knowledge and expert guidance. Working with professionals who offer this insight is vital for buyers, sellers, and investors alike.
July has been an active and productive month, with several properties under contract and steady showing activity. While not every agent is experiencing the same momentum, those who remain strategic, adaptable, and consistent in their efforts are seeing real results.
If you have questions or need guidance, just reach out. You can call me at 801-285-0521 or send me an email at Justin@JustinUdy.com. I look forward to hearing from you!
