Weber County Housing Inventory Snapshot: October 2011

A client asked me which markets in Weber County were the "hottest" as far as sales go.  It's an interesting question.  I liken it to asking which body in the cemetery is the warmest.  I was curious myself and ran the numbers.  Here are the findings:

 
This chart measures the "Months of Inventory" available.  In other words, at sales rates over the last 12 months or at the 30-day pace, how long would it take to sell all of the homes that are on the market today. 

Anything under 6 months is considered a healthy market.  Anything over 12 months is considered extremely overstocked.  It appears that the rurul communities of Plain City, Farr West, and Slaterville are doing relatively well along with Hooper.  The upper income communities of North Ogden, Pleasant View, and the resort communites of Eden, Liberty, and Huntsville are still glutted with listings. 

But before you start a pity party, lets take a look at how far we have come from 2009.  Here is a chart I posted a couple years ago:

There was a time when inventory levels were north of 10 months for most of the county.  Check out Eden and Liberty!  Those markets have come a long way to better health today.  Nobody likes an 80 month market time.

The contrast between these two charts shows that the market today is finding an equilibrium point after the shock of the market collapse in 2008.