2025, the Market, and You
We are a few months into 2025, and the market is warming up though the snow still falls in Cache Valley! Even if you want to hit the slopes, snowmobile, or snuggle by a fire, this is a great time of year to assess your property value and your real estate goals. It takes around four hours - 3 appointments and a little thinking time - to keep your knowledge on the value and condition of your assets fresh and further define your bigger ideas are in real estate! Peace of mind is supported when you take time to be informed on your asset and financial picture, whether you have not bought your first home yet or you are an owner now.
The bigger picture painted in February 2025 shows the Utah market warming with the number of listings and properties under contract both rising, as expected this time of year. However, with more inventory but less closings than last year, we are experiencing more of a buyer’s market. What that means for sellers is that you can expect your home to stay on the market a little longer than you may prefer before your buyer comes along. Buyers simply have more options and they tend to take their time making decisions in this market dynamic.
With slower movement, taking the opportunity to review goals and values gives you breathing room. This helps you absorb information and consider your goals. The market continues to appreciate, seeing an average 2.5% increase in Utah home prices from the year prior. Per Norada Real Estate Investments, the Logan market is experiencing significant growth and is forecasted to produce higher returns than other areas of the state. Take a look, yourself, to see what the best educated guesses are saying about real estate appreciation in forecasts for the state and by city. You can do this via a google search for “hottest counties (or cities) in Utah for Real Estate Growth 2025.”
While market trends are interesting and can be informative, checking them out is a good first step to create the conversation with your support persons around your specific needs and goals. If it is time for you to move, tools and timelines, inventory and lending options tend to line up as you seek trusted professionals to help you with your transaction. First time home buyers can learn about their savings goals and the tools available to help them into their first purchase.
Here are three appointments I recommend you make so you can gather information and understand your asset(s) and options:
Ask your real estate agent for a Comparative Market Analysis (CMA) - or talk with three agents to find one you trust and feel comfortable with. I am happy to work a referral or two out for you if you would like me to do some footwork to help you.
Talk with your lender and learn what your financial picture looks like.
Set up bids for work that needs to be done on your home.
The final step of your research is to meet with your support people - your spouse or family who are directly involved in your real estate choices, or friends who can be sounding boards - and talk about what you learned to find clarity and next steps!
A few hours and a little information can bring clarity and peace, support and next steps!
Enjoy this beautiful spring and let me know what questions I can help you with as you research the value of your assets and clarify your real estate goals!
