If you’re looking to buy a home in the Salt Lake Valley, you may be in for a battle. According to Realtor.com, Salt Lake ranks in the top 10 hottest housing markets this year. Sitting comfortably at number 6, Salt Lake is a favorite for many reasons, and with an expected boom in corporate growth, homes are going to be even harder to snag.
Don’t count out the Salt Lake Valley though. If you really want to live here, you’ll have to be patient and fight for the house you want. If you’re selling your home and you live in one of these hot housing markets, you can likely expect a quick sale. Want to learn more? Check out which neighborhoods are attracting the most interest:
Millcreek
It may have just gained city status in January of 2017, but Millcreek is a well-established community located only 15 minutes from downtown Salt Lake. Nestled between the city and the mountains, Millcreek is the perfect combination of convenience and family-friendly. With quick access to freeways, ski slopes, dining, hospitals, and entertainment, the neighborhoods offer a quiet respite from downtown traffic. The availability of homes in the area is part of the struggle. The sales price of single-family homes is another factor. The average home price in Millcreek is around $320,000, but don’t be surprised to see houses priced much higher. Home values are likely to go up again in the next year. Millcreek is home to just over 62,000 people.
Sugar House
Sugar House has managed to retain a lot of its historical charm while welcoming lots of new businesses. This trendy neighborhood is popular for its walkability and charming homes. Sugar House home values are up 12% over the last year and could go up another 4 percent in the next year, according to Zillow. The average home is listed for $412,000. The cozy community is located just north of Millcreek and butts up against Salt Lake City. Perks of this neighborhood include quick access to amenities, walkability and historic areas. Sugar House is home to more than 103,000 people.
The Avenues
If historical homes are your cup of tea, the Avenue’s neighborhood is a dream location. These neighborhoods are nearly all residential and are comprised of a series of “Avenues” numbered east and west and lettered north and south. The eclectic community is a mix of huge houses and cozy cottages. While you’ll likely need to drive everywhere, the drive won’t be long. The neighborhood is located near downtown Salt Lake, and freeway access is about 10-minutes away (if you don’t leave in the middle of the morning commute). The hilly neighborhood is perfect if you don’t mind driving a few minutes to the grocery store. You’ll be far enough away from busy business traffic, but close enough to enjoy a convenient drive to most any activity. Average home prices in this neighborhood sit around $380,000.
West Jordan
Home values are steadily increasing in West Jordan, with the average home at $266,300. Home values could rise another 3 percent in the next year. The average home on the market is selling for around $320,000. Located 20 minutes from downtown Salt Lake, this is a good compromise if you are looking for a less expensive home. There is plenty to do in West Jordan including access to hiking, dining, entertainment, and shopping. West Jordan includes lots of residential areas and a respectable metropolitan area as the fourth largest city in the state.
Buying or selling a home is an exciting time, but it can be intimidating. Let us help make your transition easier. We’re happy to answer any questions. Call us today at 801.597.7971.