Even in the colder months of winter, the Salt Lake real estate market, historically seeing a seasonal slowdown, has continued to see good growth and appreciation. The local market tends to cool off with the weather and January and February are traditionally the slowest months of the year for sales in the area, but this year the market seems unusually strong.
Our websites have seen very strong traffic in January and the first part of February, with people staying on the sites longer and doing more searches.
After the holidays and new year, more people began searching online. And the buyers are not just in the Salt Lake area, as only 55% of the visitors to the site were in Utah. Denver was tops among out-of-state cities bringing us traffic, taking the place of usual top cities LA and San Francisco (the left coast always seems to bring people to Utah).
Buyers who wait until spring to purchase will be sorry they did, as they’ll certainly be paying for their procrastination- literally. The most important ingredients to real estate investing is location, square footage, and timing. And whether looking to buy for the investment or for a place to call home, there’s no use in paying more than you need to.