Why do you want to move to Salt Lake City?
The market is changing for the better – houses for sale in Salt Lake City are being purchased regularly and job opportunities are being added. These factors make it a good time to consider buying a home if appropriately financed. Generation Y professionals looking to expand their influence in the economic market may find the ideal property within close proximity to their place of work.
According to ALTOSResearch, the median price paid for a single-family home as of May 6, 2012 was $242,942. Another reliable way to judge how great a deal is to determine the price per square foot in the metro area, which is approximately $108 in Salt Lake City.
Improving housing market
It isn’t just the affordable prices in Salt Lake City that make purchasing one of the houses for sale a great find, but also the increased rate of purchases. A fast turnover market results in greater home values, which makes buying a property a better investment.
An estimated 1,267 homes sold during the first quarter of 2012 – an increase of 41 percent from the same time last year. In addition, new construction also significantly improved 34 percent in the first quarter 2012, according to Metrostudy.
"New home starts in the Greater Salt Lake market have increased in nearly every price segment, signaling that housing is improving over a broad range of prices and areas in the market," said Eric Allen, director of Metrostudy’s Utah/Idaho Region.
Improving job market
If Generation Y is looking for a job, Salt Lake City may have a solution. According to Utah Business, the Governor’s Office of Economic Development (GOED) has given the go-ahead for new business growth incentives. As part of the deal, approximately $160 million of new capital will be added to the state, almost 1,133 new jobs and increased wages of 125 percent of the county’s average.
"Once again, we have world class companies expanding and creating stable, high-paying jobs in Utah," said Governor Gary R. Herbert, according to Utah Business. "Companies need stability and a business-friendly environment in order to thrive and grow. Utah’s deliberate efforts to provide both are clearly bearing fruit, as these expansion announcements show."
Check out the MLS listings in Salt Lake City to find a property that meets your professional needs in an improving marketplace.