Castle Country Real Estate Podcast: Recent Episodes
Madsen Real Estate Team
The Castle Country Real Estate Podcast is a weekly snapshot of real estate in Utah's beautiful Castle Country.
Every week Realtor Josh Madsen gives you the latest market statistics, hot real estate tips, and local events to check out.
Episode #17 of the Castle Country Real Estate Podcast is live! This is the show where I give you this week snapshot of the real estate market here in Price and Emery counties in Utah! Number of homes on the market between carbon in Emery county: 62 The number of homes that sold in the last seven days: 4 Thanks for checking in this week, my name is Josh Madsen and I’m a realtor here in Price Utah. If you have any market questions feel free to reach out directly to me at 801-388-4047 or you can email me at Josh@madsen.team
This is the show where I give you this week snapshot of the real estate market here in price and Emery counties in Utah!
Number of homes on the market between carbon in Emery county: 60
The number of homes that sold in the last seven days: 5
General market information:
-
What do these numbers tell us? It’s still a SELLER’S MARKET by definition
-
Buyers are starting to re-activate themselves as they warm up to interest rates
-
Sellers need to re-calibrate their expectations to 60-90-120 days like a NORMAL MARKET in order to get their house sold.
-
REMEMBER - prices this year will most likely stay flat or go down a little from 2022. So although IT IS a seller’s market by definition
— it’s important to price your home correctly at the beginning in order to sell in a reasonable amount of time.
Thanks for checking in this week, my name is Josh Madsen and I’m a realtor here in price Utah. If you have any market questions feel free to reach out directly to me at 801-388-4047 or you can email me at Josh @madsen.team
This is the show where I give you this week snapshot of the real estate market here in Carbon and Emery counties in Utah!
You'll find the latest in real estate market statistics for Carbon and Emery counties in Utah, a quick real estate hot tip, and what's going on in Castle Country this weekend!
Thanks for checking in this week, my name is Josh Madsen and I’m a realtor here in price Utah. If you have any market questions feel free to reach out directly to me at 801-388-4047 or you can email me at Josh @madsen.team
This week on the podcast I cover what is going on this week in Castle Country in #Utah Number of homes on the market between Carbon & Emery counties: 99
The number of homes that sold in the last seven days: 3
Real Estate Hot Tip This Week: The top things to repair before selling your house that will you'll recoup the money in the sale.
Event to check out: 15th Annual Christmas Treasures Market Entertainment, Clothing, Home Decor, Handmade Crafts, Gifts, Food, and more!
All proceeds go to Carbon Christmas Visit with Santa from 1:00-2:30 p.m.
Location: Carbon High School 750 N 400 E, Price, UT 84501
Dec 3, 2022 at 10:00 am - 05:00 pm (Sat)
This is the show where I give you this week snapshot of the real estate market here in price and Emery counties in Utah! You'll find the latest in real estate market statistics for Carbon and Emery counties in Utah, a quick real estate hot tip, and what's going on in Castle Country this weekend! Thanks for checking in this week, my name is Josh Madsen and I’m a realtor here in price Utah. If you have any market questions feel free to reach out directly to me at 801-388-4047 or you can email me at Josh @madsen.team
The Latest Utah Housing Statistics are Out!
The 3 key points that I’m observing here are the following:
-
Houses are staying on the market longer — an average of 31 days. Nothing too concerning, but sellers should understand that their home may be on the market longer than it took to sell during the last two years . Buyers should know this means more opportunity to look at properties in a timely fashion without as much pressure to buy quickly and with more options to choose from.
-
The median price of a home is on average up 8.6 % from the same period last year. This means values are holding and although we are out of the double digit percentage growth of the pandemic-era market, it’s still a healthy growth of value. It is still a great time to sell. Buyer’s should take note of this as well and know that these single digit values will most likely continue into the near future as there is still a national shortage of single-family homes and Utah is a high demand area to buy.
-
Less listings went on the market than this time period last year. In my opinion the cooling market of buyers is influencing some sellers to hold on to their existing homes. Although there are more options for buyers to look at with a little less pressure on the market, there’s still a lack of homes for certain categories of potential sellers. If you think these market insights are helpful, please tag a friend and share my social platforms with them.
Market Questions? 801-388-4047 / jmadsenrealestate@gmail.com #MadsenRealestate #RealEstateTitansUtah #Utah #UtahRealEstate #CarbonCounty #UtahCounty #SaltLakeCounty
Welcome to the Castle Country Podcast this is episode number 11 This is the show where I give you this week snapshot of the real estate market here in price and Emery counties in Utah! Number of homes on the market between carbon in Emery county: 94
The number of homes that sold in the last seven days: 4
Get the latest in market information and hot tips for buyers and sellers.
Market Questions? 801-388-4047 jmadsenrealestate@gmail.com IG: @madsen.team #MadsenRealestate #RealEstateTitansUtah #Utah #UtahRealEstate #CarbonCounty #UtahCounty #SaltLakeCounty
EPISODE #10
Welcome to the Castle Country Podcast this is episode number 10
This is the show where I give you this week snapshot of the real estate market here in price and Emery counties in Utah!
Number of homes on the market between Carbon and Emery county: 82
The number of homes that sold in the last seven days: ZERO
Thanks for checking in this week, my name is Josh Madsen and I’m a realtor here in Price Utah.
If you have any market questions feel free to reach out directly to me at 801-388-4047 or you can email me at Josh @madsen.team
I’ll see you next Friday was another episode and deep dive into the carbon in Emery County real estate market here in Utah. Have a great weekend!
#MadsenRealestate #RealEstateTitansUtah #Utah #UtahRealEstate #CarbonCounty #UtahCounty #SaltLakeCounty
This is the show where I give you this week snapshot of the real estate market here in price and Emery counties in Utah! You'll find the latest in real estate market statistics for Carbon and Emery counties in Utah, a quick real estate hot tip, and what's going on in Castle Country this weekend! Thanks for checking in this week, my name is Josh Madsen and I’m a realtor here in price Utah. If you have any market questions feel free to reach out directly to me at 801-388-4047 or you can email me at Josh @madsen.team
Episode #8 of the Castle Country Real Estate Podcast is LIVE! Market Questions? 801-388-4047 / jmadsenrealestate@gmail.com #MadsenRealestate #RealEstateTitansUtah #Utah #UtahRealEstate #CarbonCounty #UtahCounty #SaltLakeCounty
Welcome to the Castle Country Podcast this is episode #7
This is the show where I give you this week snapshot of the real estate market here in price and Emery counties in Utah!
Number of homes on the market between carbon in Emery county: 88
The number of homes that sold in the last seven days: 8
Welcome to the Castle Country Podcast this is episode number 6 This is the show where I give you this week snapshot of the real estate market here in price and Emery counties in Utah! Number of homes on the market between carbon in Emery county: 86 The number of homes that sold in the last seven days: 7 Market Questions? 801-388-4047 / jmadsenrealestate@gmail.com
Welcome to the Castle Country Podcast this is episode number 5
This is the show where I give you this week snapshot of the real estate market here in price and Emery counties in Utah!
Number of homes on the market between carbon in Emery county: 92
The number of homes that sold in the last seven days: 6
Market Questions? 801-388-4047 / jmadsenrealestate@gmail.com
#MadsenRealestate #RealEstateTitansUtah #Utah #UtahRealEstate #CarbonCounty #UtahCounty #SaltLakeCounty
This week I cover all the news and happenings in real estate in both Carbon and Emery Counties here in Utah.
Market Questions? 801-388-4047 / jmadsenrealestate@gmail.com #MadsenRealestate #RealEstateTitansUtah #Utah #UtahRealEstate #CarbonCounty #UtahCounty #SaltLakeCounty
This week on the podcast I go over the weekly number of single-family homes on the market for Carbon and Emery counties in Utah. New homes continue to come online and are keeping the numbers hovering around 85-90 each week.
The new statistics from Utah Real Estate just dropped this week.
Highlights:
Median Days on the market went up to 9 days from 6 in June 2021.
Listings entered onto the MLS went up 17.7% from last year this time.
Median Single Family House SOLD Price went up 19.5% from last year.
Don’t forget that International Days is coming up! Find out more about it here:
https://www.pricecityutah.com/international-days.html #Utah #RealEstate #PriceUtah #HelperUtah
On this week's Castle Country Real Estate Podcast:
Number of homes on the market between carbon in Emery county: 83
The number of homes that sold in the last seven days: 8
General market information:
Think Home Prices Are Going To Fall? Think Again
Over the last two years, the rate of home prices appreciated at a dramatic pace. While that led to incredible equity gains for homeowners, it’s also caused some buyers to wonder if home prices will fall. It’s important to know the housing market isn’t a bubble about to burst, and home price growth is supported by strong market fundamentals.
To understand why price declines are unlikely, it’s important to explore what caused home prices to rise so much recently, and where experts say home prices are headed. Here’s what you need to know.
Home Prices Rose Significantly in Recent Years
The graph below uses the latest data from CoreLogic to illustrate the rise in home prices over the past year and a half. The gray bars represent the dramatic increase in the rate of home price appreciation in 2021. The blue bars show home prices are still rising in 2022, but not as quickly:
You might be asking: why did home prices climb so much last year? It’s because there were more buyers than there were homes for sale. That imbalance put upward pressure on home prices because demand was extremely high, and supply was record low.
Where Experts Say Prices Will Go from Here
While housing inventory is increasing and buyer demand is softening today, there’s still a shortage of homes available for sale. That’s why the market is seeing ongoing price appreciation. Mark Fleming, Chief Economist at First American, explains it like this:
“. . .we’re still well below normal levels of inventory and that’s why even with the pullback in demand, we still see house prices appreciating. While there is more inventory, it’s still not enough.”
As a result, experts are projecting a more moderate rate of home price appreciation this year, which means home prices will continue rising, but at a slower pace. That doesn’t mean prices are going to fall. As Selma Hepp, Deputy Chief Economist at CoreLogic, says:
“The current home price growth rate is unsustainable, and higher mortgage rates coupled with more inventory will lead to slower home price growth but unlikely declines in home prices.”
In other words, even with higher mortgage rates, moderating buyer demand, and more homes for sale, experts say home price appreciation will slow, but prices won't decline.
If you’re planning to buy a home, that means you shouldn’t wait for home prices to drop to make your purchase. Instead, buying today means you can get ahead of future price increases, and benefit from the rise in prices in the form of home equity.
Bottom Line
Home prices skyrocketed in recent years because there was more demand than supply. As the market shifts, experts aren’t forecasting a drop in prices, just a slowdown in the rate of price growth. To understand what’s happening with home prices in our area, let’s connect today.
Your real estate hot tip for the week:
3 Items you Need in Your Buyer’s Tool Box:
-
A Pre-Approval Letter from your lender
-
Know what liquid cash you have on hand and how it can be used
-
Your personal tick-list of what you are looking for in a home
What’s going on this weekend in Castle country:
Helper Saturday Vibes:
TOMORROW!!
The Castle Country Real Estate Podcast focuses on real estate specifically in the Carbon and Emery counties of Utah. Hosted by Josh Madsen, a Realtor at Real Estate Titans in Price, Utah.
In this episode Josh discusses the following: — Number of homes on the market between carbon in Emery county: 86 Single Family Homes are available.
Number of homes that went under contract in the past week: 7
The number of homes that sold in the last seven days: 5
General market information: Data from realtor.com shows the number of homes being listed for sale, or new listings, is rising. In fact, there are more homes coming to market today than there were at the same time last year. That’s great news if you’re craving additional options for your home search
What’s going on in Castle country:
FUTURE EVENTS:
Helper Saturday Vibes: Saturday July 23rd Price City
International Days Festival Thu, Aug 4, 6:00 PM
FOLLOW ME ON SOCIAL MEDIA: @MADSEN.TEAM
#utah #utahrealtor #utahrealestate #PriceUtah #CarbonCountyUtah #realestateinvesting #CastleCountry #Utahtravel