The COVID-19 pandemic has disrupted markets all over the country, but the Tooele City housing market is not one of them. Home sales are still going strong in Tooele City, UT, even with coronavirus lockdowns and major economic uncertainty in most of the country.
If you’ve been thinking about purchasing a home in Tooele City, consider acting as soon as possible. This market is growing in popularity, and affordable, brand-new homes from builders like UpDwell Homes LLC are going fast. Read on to learn about the market and what you can expect if you move to Tooele City.
The Tooele City housing market
Despite real estate grinding to a halt in most parts of the United States, Tooele City actually closed out the first quarter of 2020 with a nearly 5 percent growth in closed sales, and home prices were up almost 11 percent as compared to the first quarter of 2019.
The Tooele City housing market saw an understandable dip in March as lockdowns began and awareness of the COVID-19 pandemic spread across the state and country. However, in January 2020, home sales were already up 42.9 percent compared to December 2019, and February saw an 11.8 percent growth.
Statistics for April through June are not available yet, but experts predict that the dip hasn’t worsened. Despite the pandemic, there are still plenty of people interested in buying homes—it’s just that the procedure has changed.
Now many realtors are encouraging sellers to post virtual tours of their homes so interested buyers can check them out. If the house looks promising, the potential buyers can make an appointment to see the home in person. Realtors and other real estate professionals are making plenty of social distancing concessions, from wearing masks and staying six feet apart to asking buyers not to touch anything during the home tour. Homes are sanitized before and after each tour.
Currently, real estate professionals are noting a shortage of supply pushing up the home prices—whether because people are reluctant to list their homes or because Tooele City is becoming an increasingly desirable location, you won’t want to miss out on your chance to buy here.
A rapidly growing county
Tooele City is the heart of Tooele County, which is the seventh fastest growing county in the United States. Tooele County has seen steady growth since 2016, thanks to what buyers have determined as great prices and value for their money. It’s an ideal location, being close enough to Salt Lake City that you can enjoy its culture and other offerings, while still far enough away to avoid smog, traffic and other issues.
The county is committed to seeing this growth continue in a sustainable way, right down to planning developments with good walkability scores and access to public transit. Meanwhile, infrastructure from water and sewer lines to highway exits is under construction to improve access.
Thinking about buying a new home in Tooele City, UT? Reach out to UpDwell Homes LLC today to explore your options.