Know your local market:

Salt Lake City, Utah

Understanding the neighborhood where you’ll buy or sell a property is critical. There’s a well-known phrase in the real estate industry: location, location, location. When you’re buying or selling a property, the one thing that can’t be changed is the location. You’ll want to choose wisely. If you’re selling your property, highlighting the benefits of your neighborhood is a great way to attract buyers. If you’re purchasing a house, taking a closer look at the community will help you understand the market and investment potential more clearly.

Need to sell your home fast? Get an offer from Brick, fast!

Whether you’re moving on a deadline or you just want to speed up the sales process so you can move on faster, we can help. We offer:

Fast, fair offers: The average home sits on the market between 25 and 30 days. Once your home is under contract, it can take up to 45 days to close. At Brick, we’ll make a fair, cash offer within days.

No closing costs: Selling a home can cost several thousand dollars when you factor in realtor fees, closing costs, and repairs. You won’t have any of those expenses when you sell to Brick.

No walkthroughs: Don’t worry about scheduling open houses or walkthroughs. We purchase homes as-is. We can even buy properties site unseen. We also buy properties in any condition.

Close in days: Instead of waiting a month or more to finalize your sale and move on, sell to Brick. Once you accept the cash offer, we can close the deal within days.

Housing Market Trends in Salt Lake City, Utah

The housing market in Salt Lake City, Utah, is more competitive than ever. Housing prices have hit record highs again. In 2015, the median home price was $243,300, increasing 4% from the year prior. In May of 2021, the median sales price hit $437,000 and increased 24.1% from 2020.

In June of 2021, the average home spent about 11 days on the market, according to FRED Economic Data. At the lowest point in May, homes were on the market for just 8 days. In 2015 homes spent an average of 39 days on the market.
The best time to sell your home in Salt Lake City depends on your goal. If you want to sell your home for a higher price, listing your home in the winter months, November through February, could be beneficial. There are often fewer homes on the market for buyers to choose from, so you can ask for a higher price. It may take a little longer to sell, however.

If you want to sell faster, late spring and early summer are good options, as families with kids often look to move during school breaks. Your home will likely sell more quickly, but you may have to ask for a lower price since there are typically more homes on the market in the summer months.

Tips for Selling Your Home Fast:

Significant life changes don’t always come at the most convenient times. Selling your home may be a desire, or it might be a necessity. Whether you’ve decided to start a new life across the country on a tight deadline or you’re just ready to ditch your investment properties, managing your sale the right way is essential. Check out these helpful articles for navigating the quick sale of your house: 

Critical Tips for Selling Your Home:

Selling your home(s) can be difficult, but it doesn’t have to feel overwhelming. Taking a few minutes to prepare yourself for the sales process can make a world of difference when it comes time to part with your house. Here are a few things to consider:

Why are you selling?

Before you list your house or contact us for a cash offer, it helps to know why you’re selling your home. Identifying the why helps with the sales process, including setting expectations for a sales price. It can also help you emotionally process the transaction so that you’re able to let go of your property. 

Sellers offloading an inherited property, downsizing, going through retirement, or selling because of a divorce, should consider whether their emotional attachment could make the sales process more difficult. We’ve noticed that buyers who are overly passionate about the sale are more likely to:

  • Ignore staging advice
  • Overprice the home
  • Respond irrationally to lower offers or requests for repairs
  • Fail to market to their target audience

If you’re selling because you want to liquidate your investment properties, you may need to consciously withdraw the idea of control over what happens to the property once you sell. 

What are your selling needs?

Once you’ve identified why you’re selling and identified ways to emotionally detach from the sales process, it’s time to think about your needs during the sales process.  Which of these are concerns you have about your upcoming move?

  • Cost of relocation
  • Access to equity in your property
  • Ability to provide seller financing
  • Time to pack and move
  • Cost of realtor fees and closing costs
  • Cost of repairs
  • Finding a buyer to purchase the property as-is
  • Desire or ability to manage walkthroughs and appraisals

Many sellers spend as much as 10% of their sales price on repairs, fees, and closing costs. Are you comfortable, or able, to let go of that money to sell your home on the traditional market? If your home needs extensive repairs, you may need to pay for repairs or make concessions on the sale price. If you’d rather avoid appraisals and negotiating with buyers, selling your home for cash could be a better option. 

Prepare for signing and closing

One of the most anticipated parts of selling a house is signing and closing. This final step makes everything official. The process can be a little different depending on if you sell your home through the traditional market or with an ibuyer. 

If you sell your home on the traditional market, the sale can fall through at any point before closing. Complications with appraisal or funding could delay a sale. In worst-case scenarios, a deal could entirely fall through if a buyer isn’t approved for financing or if the lender refuses to fund the loan because the property appraises for less than the offered amount. 

During closing, you’ll meet with the lender and the buyers and sign paperwork to finalize the sale. Before the final paperwork, your property undergoes an appraisal and inspection. The agent will do a title search, and you’ll complete any repairs or other concessions. Once the closing paperwork is filed, and the title is transferred into the seller’s name, the home is no longer yours.

When you work with an ibuyer, the closing process is a little different. The process is much faster because there are fewer hoops to jump through. We offer more flexibility for sellers, including the ability to control when you move out. We don’t require inspections or appraisals, and you won’t have to worry about our financing falling through. We can help you sell your home in a matter of days instead of weeks.

What does Salt Lake City have to offer:

Salt Lake City is the capital city of Utah. As such, it has a myriad of entertainment, outdoor activity, and dining options. Located between the Wasatch Mountain Range and the Oquirrh Mountains, residents can easily access skiing and hiking trails.  Salt Lake City provides easy access to more than 20 national parks. 

The Wasatch Cache National Forest and Timpanogos Cave National Monument are both within an hour’s drive from the city. 

Popular attractions in Salt Lake City, Utah include:

  • The Natural History Museum
  • Temple Square
  • Hogle Zoo
  • Clark Planetarium
  • Utah Museum of Fine Art
  • Discovery Gateway Children’s Museum
  • The Leonardo Museum of Science, Technology, and Art
  • City Creek Center
  • The Gateway Mall
  • Trolley Square
  • This is the Place Monument

Salt Lake City has many local parks with access to playgrounds, skateparks, basketball courses, swimming pools, and picnic areas. Looking for a few more thrills? Lagoon Amusement Park is located about 25 minutes north in Farmington. 

It is located a quick drive to Park City, home of the Sun Dance Film Festival. Situated in a central urban corridor, residents can access other major cities like Layton, Ogden, Sandy, and West Jordan via I-15. 

Salt Lake is also home to the University of Utah. The University of Utah Hospital houses several nationally recognized programs, including their pediatric and neurology departments. 

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Further Reading

Pros and Cons: For Sale by Owner

If you’ve ever considered selling your home without a listing agent, here are a few pros and cons of a for-sale-by-owner you should think about before making your final decision. While an agent can certainly be helpful, it’s not impossible to sell your home independently. Some homeowners find that selling without a realtor better suits their needs.

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