The Deer Valley, Utah Market Absorption Rate Snapshot – July 1, 2013

By Jim Barth
Jul 01, 2013

Image for Deer Valley real estate absorptionWe have compiled our “Absorption Rate Snapshot” for the Deer Valley Resort real estate market as of July 1, 2013.  As we report monthly, below you will find the highlights of this analysis.  We compile these numbers on a monthly basis looking for trends and the trends, for the most part, continue to show market improvement.

When we refer to the overall Deer Valley Resort real estate market below, we are including the following submarkets: (i) Lower Deer Valley, (ii) Upper Deer Valley, (iii) Empire Pass and (iv) Deer Crest. We compile inventory statistics for each of these submarkets as well as the overall Deer Valley market, so if you would like more specific submarket information, please let us know.

Single Family Homes: As of July 1, 2013, there were 63 current active listings in the overall Deer Valley single family home real estate market, 3 under contract and 37 homes that have closed escrow in the past 12 months.  This represents 21 months’ supply of available single family residential inventory.

Condominiums:  There are currently 134 active listings in the overall Deer Valley condominium real estate market, 9 under contract and 111 condominiums that have closed escrow in the past 12 months.  This represents 15 months of available inventory. 

Although these numbers continue to reflect an overall buyer’s market for the Deer Valley Resort real estate market, the yearly trend does continue its movement back toward market equilibrium.

Tags: Deer Valley Real Estate, Lower Deer Valley, Upper Deer Valley, Deer Crest, Empire Pass, Deer Valley Utah real estate, Absorption, Deer Valley Single Family Inventory, Deer Valley Condominium Inventory
Posted in Uncategorized | 0 Responses to "The Deer Valley, Utah Market Absorption Rate Snapshot – July 1, 2013"

The Deer Valley, Utah Market Absorption Rate Snapshot – April 1 2013

By Jim Barth
Apr 14, 2013

Image for Deer Valley real estate absorptionWe have compiled our “Absorption Rate Snapshot” for the Deer Valley Resort real estate market as of April 1, 2013.  As we report monthly, below you will find the highlights of this analysis.  We compile these numbers on a monthly basis looking for trends and the trends continue to show market improvement.

When we refer to the overall Deer Valley Resort real estate market below, we are including the following submarkets: (i) Lower Deer Valley, (ii) Upper Deer Valley, (iii) Empire Pass and (iv) Deer Crest. We compile inventory statistics for each of these submarkets as well as the overall Deer Valley market, so if you would like more specific submarket information, please let us know.

Single Family Homes: As of April 1, 2013, there were 67 current active listings in the overall Deer Valley single family home real estate market, 3 under contract and 44 homes that have closed escrow in the past 12 months.  This represents 19 months’ supply of available single family residential inventory.

Condominiums:  There are currently 138 active listings in the overall Deer Valley condominium real estate market, 22 under contract and 111 condominiums that have closed escrow in the past 12 months.  This represents 17 months of available inventory. 

Although these numbers continue to reflect an overall buyer’s market for the Deer Valley Resort real estate market, the yearly trend does continue its movement back toward market equilibrium.

Tags: Deer Valley Real Estate, Deer Valley, Lower Deer Valley, Upper Deer Valley, Deer Crest, Empire Pass, Deer Valley Utah real estate, Deer Valley Single Family Inventory, Deer Valley Condominium Inventory
Posted in Uncategorized | 0 Responses to "The Deer Valley, Utah Market Absorption Rate Snapshot – April 1 2013"

The Deer Valley, Utah Market Absorption Rate Snapshot – March 1, 2013

By Jim Barth
Mar 04, 2013

Deer Valley real estate absorption rate snapshotWe have compiled our “Absorption Rate Snapshot” for the Deer Valley real estate market as of March 1, 2013.  Below you will find the highlights of this analysis.  We compile these numbers on a monthly basis looking for trends and the overall trend continues to show slow market improvement. We believe that it is necessary to have a good understanding of where the market has been in order to gain a perspective of where it might be going.

When we refer to the overall Deer Valley, Utah real estate market below, we are including the following submarkets: (i) Lower Deer Valley, (ii) Upper Deer Valley, (iii) Empire Pass and (iv) Deer Crest. We compile inventory statistics for each of these submarkets as well as the overall Deer Valley market, so if you would like more specific submarket information, please let us know.

Single Family Homes: As of March 1, 2013, there were 69 current active listings in the overall Deer Valley single family home real estate market (up from 66 in February), 5 under contract (down from 6 for last month) and 41 homes that have closed escrow in the past 12 months. 

This represents 22 month’s supply of available single family residential inventory, which is down from last month’s (February 2013) reading of 23 months.  The above numbers continue to be skewed upward since the Empire Pass submarket is steady with 40 months of available single family inventory.

The strongest submarket for single family homes for the majority of 2012 had been for the Upper Deer Valley submarket.  However, late in the year the Deer Crest submarket moved ahead showing very impressive market improvement and is currently at 11 months of available inventory, which is down from last month’s reading of 12 months of available inventory.  As mentioned previously, this is a truly startlingly statistic since the Deer Crest neighborhood started 2012 with 96 months (8years) of available inventory and now is positioned as a “Sellers’ Market,” the first time a submarket of Deer Valley has moved into this category since the financial crisis of 2008. 

Condominiums:  There are currently 144 active listings in the overall Deer Valley condominium real estate market (up slightly from 143 for last month), 22 under contract (down slightly from last month’s reading of 23) and 111 condominiums that have closed escrow in the past 12 months.  This represents 18 months of available inventory, which is up from last month’s February 2013 reading of 17 months. The strongest submarket for Deer Valley condominiums continues to be the Lower Deer Valley neighborhood with 16 months of available inventory.

Although these numbers continue to reflect an overall buyer’s market for the Deer Valley real estate market, the trend for 2013 appears to be continuing from 2012, and that is a market moving back toward equilibrium.

Tags: Deer Valley Real Estate, Lower Deer Valley, Upper Deer Valley, Deer Crest, Empire Pass, Deer Valley Utah real estate, Deer Valley Condominium Inventory, Deer Valley Single Family Homes
Posted in Uncategorized | 0 Responses to "The Deer Valley, Utah Market Absorption Rate Snapshot – March 1, 2013"

The Deer Valley, Utah Market Absorption Rate Snapshot – February 1, 2013

By Jim Barth
Feb 03, 2013

Picture of Absorption for Deer Valley real estateWe have compiled our “Absorption Rate Snapshot” for the Deer Valley real estate market as of February 1, 2013.  Below you will find the highlights of this analysis.  We compile these numbers on a monthly basis looking for trends and the overall trend continues to show slow market improvement.

When we refer to the overall Deer Valley, Utah real estate market below, we are including the following submarkets: (i) Lower Deer Valley, (ii) Upper Deer Valley, (iii) Empire Pass and (iv) Deer Crest. We compile inventory statistics for each of these submarkets as well as the overall Deer Valley market, so if you would like more specific submarket information, please let us know.

Single Family Homes: As of February 1, 2013, there were 66 current active listings in the overall Deer Valley single family home real estate market (down from 67 from last month), 6 under contract (up from 2 for last month) and 38 homes that have closed escrow in the past 12 months. 

This represents 23 month’s supply of available single family residential inventory, which is up from last month’s (January 2013) reading of 22 months.  The above numbers continue to be skewed upward since the Empire Pass submarket is steady with 60 months of available single family inventory.

The strongest submarket for single family homes for the majority of 2012 had been for the Upper Deer Valley submarket.  However, late in the year the Deer Crest submarket moved ahead showing very impressive market improvement and is currently at 12 months of available inventory, which is up from last month’s reading of 10 months of available inventory.  As mentioned previously, this is a truly startlingly statistic since the Deer Crest neighborhood started 2012 with 96 months (8years) of available inventory and now is positioned close to market equilibrium. 

Condominiums:  There are currently 143 active listings in the overall Deer Valley condominium real estate market (up from 139 for last month), 23 under contract (significantly up from last month’s reading of 13) and 117 condominiums that have closed escrow in the past 12 months.  This represents 17 months of available inventory, which is up from last month’s January 2013 reading of 15 months. The strongest submarket for Deer Valley condominiums is for the Lower Deer Valley neighborhood with 16 months of available inventory.

Although these numbers continue to reflect an overall buyer’s market for the Deer Valley real estate market, the trend for 2013 appears to be continuing from 2012, and that is a market continuing its movement back toward market equilibrium.  It has also been interesting to note that some new listings coming onto the market are attempting to increase their initial list price by approximately 10% from what the market comparables might suggest.  We will report back whether this attempted price increase is being accepted by the marketplace.

Tags: Deer Valley Real Estate, Lower Deer Valley, Upper Deer Valley, Deer Crest, Empire Pass, Deer Valley Utah real estate, Absorption, Deer Valley Single Family Inventory, Deer Valley Condominium Inventory
Posted in Uncategorized | 0 Responses to "The Deer Valley, Utah Market Absorption Rate Snapshot – February 1, 2013"

The Deer Valley, Utah Market Absorption Rate Snapshot – January 1, 2013

By Jim Barth
Jan 02, 2013

Image of Absorption for the Deer Valley real estate market We have compiled our “Absorption Rate Snapshot” for the Deer Valley real estate market as of January 1, 2013.  Below you will find the highlights of this analysis.  We compile these numbers on a monthly basis looking for trends and the overall trend continues to show slow market improvement.

When we refer to the overall Deer Valley Utah real estate market below, we are including the following submarkets: (i) Lower Deer Valley, (ii) Upper Deer Valley, (iii) Empire Pass and (iv) Deer Crest. We compile inventory statistics for each of these submarkets as well as the overall Deer Valley market, so if you would like more specific submarket information, please let us know.

Single Family Homes: As of January 1, 2013, there were 67 current active listings in the overall Deer Valley single family home real estate market, 2 under contract and 37 homes that have closed escrow in the past 12 months.  This represents 22 months’ supply of available single family residential inventory, which is up from last month’s (December 2012) reading of 20 months.  The above numbers are somewhat skewed however, since the Empire Pass submarket continues to hold 60 months of available single family inventory.

The strongest submarket for single family homes in 2012 had been for the Upper Deer Valley submarket; however the Deer Crest submarket has moved ahead and will win this distinction with only 10 months of available inventory.  As mentioned previously, this is truly startlingly statistic since the Deer Crest neighborhood started 2012 with 96 months (8years) of available inventory. 

Condominiums:  There are currently 139 active listings in the overall Deer Valley condominium real estate market, 13 under contract and 118 condominiums that have closed escrow in the past 12 months.  This represents 15 months of available inventory, which is down from last month’s December 2012 reading of 16 months and further down from the previous month (November 2012) reading of 17 months.  The strongest submarket for Deer Valley condominiums is for the Upper Deer Valley neighborhood with 14 months of available inventory.

Although these numbers continue to reflect an overall buyer’s market for the Deer Valley real estate market, the trend for 2012 has been of improvement with a continued movement back toward market equilibrium.  We will now turn our attention to 2013 and see what surprises might be in store for us.

Tags: Deer Valley Real Estate, Lower Deer Valley, Upper Deer Valley, Deer Crest, Empire Pass, Deer Valley Utah real estate, Absorption, Deer Valley Single Family Inventory, Deer Valley Condominium Inventory
Posted in Uncategorized | 0 Responses to "The Deer Valley, Utah Market Absorption Rate Snapshot – January 1, 2013"