Remember the concept of supply & demand we learned in high school economics? The Layton area has many homes in a variety of price ranges. While considering the options with buyers this past week, and talking with many of the listing agents, we drew the conclusion that supply is far greater than demand in the Layton area. There are great homes available! And many sellers willing to negotiate.
Your next best step is to contact a real estate professional you have confidence in, who will share with you the data on this area, and guide you through understanding what that market looks like now, how it relates to its history, and what the future might bring.
Real Estate markets are local markets. While the news in much of the country is less than positive, it is not the reality for much of Utah. We will see an impact from the rest of the country in our local markets from those moving to Utah who have homes to sell. However, our markets have maintained a stronger position returning to the more typical activity of a few years ago.
Todd, Andrew & Judy have given you great insights from their professional experience. Add to that your understanding of supply & demand, and apply it to the Layton area to find the best decision for you.
Coldwell Banker Residential Brokerage
Here is a web site that will give you some facts about the Davis County Market. Just go to http://www.utahhomebuyeronlineseminar.com/statistics Monthly statistics show that Layton is experiencing a sellers market for homes under $250K and a buyers market for homes over 250K. This varies every month but we have not seen any drastic drops in prices. As was mentioned before Utah has been rated high in areas that would help keep our prices up, i.e. #5 state to get work, #3 for the best place to buy or sell a home. You might want to get with your RealtorÂ® and have them show you the statistics from the Multiple Listing Service which will show you what our market has done in the past and present. If you don't already have a RealtorÂ® just give me a call and I can show you those statistics. You can call me at 801-774-1588.