Utah County 2008-2009

Published March 9, 2010 Home Sales Stats ’08 , Home Sales Stats ’09 , Utah County Real Estate 1 Comment
Tags: real estate stats, utah county, utah valley

Utah County Real Estate sold increased by 15% from 2008-2009. Prices slightly decreased but median prices are still in the low 200’s. With 7 months of inventory, the county as a whole is borderline between a buyers market and a sellers market.

Condos in Utah County experienced decreases across the board in 2009 with sales down 5.6% and sold price down about 10%. Today’s prices are close to the mid 100’s.

Homes in American Fork: About 24 more homes sold last year, causing an increase of 10%. Median sold price decreased about $15,000 and average price decreased over $20,000. Current prices are just over 2008 sold prices.

Homes in Eagle Mountain: The number of homes sold increased 30% from 390 in 2008 to 509 in 2009. That may be because of the drop in price from the 200’s to the 100’s.

Homes in Highland/Homes in Alpine: Highland and Alpine sold 44% more homes in 2009. Prices declined, but median price was still at about $400,000. Current average price is over $600,000, meaning you can find several high-end homes on the market.

Homes in Lehi: Even though a 16% increase seems smaller than other cities in the county, Lehi homes sold increased by just over 100. That means Lehi sold more homes than any other city in the county. Median price decreased about $15,500 to $224,462 and average price decreased $34,700 to $241,727.

Homes in Orem: Orem saw a 5% increase in number of homes sold and a 6% decrease in sold price. Inventory is currently at 6 months.

Homes in Payson: Payson experienced the largest percentage decrease in the number of homes sold. Average sold price decreased 6.75% and median sold price decreased 8.34%. Payson has the highest monthly inventory at almost one year, signifying a buyers market.

Homes in Pleasant Grove: Both median and average sold price decreased by close to 10% last year which may have had something to do with the 13% increase in sales. When comparing to median sold price of last year, current listings are about 20% overpriced.

Homes in Provo: Numbers stayed pretty close to the same with small decreases across the board. Median listed price is just under $200,000.

Homes in Saratoga Springs: With an increase of over 200 homes sold, sales jumped 72% in Saratoga Springs. Average sold price slipped from $258,932 to $228,097 and median sold price fell from $238,200 to $222,500.

Homes in Spanish Fork: Sales took a hit in Spanish Fork, decreasing by $20,000-$30,000. Numbers also took a small hit by slipping from 334 to 317. Even though last year’s numbers may not indicate it, current inventory signals a sellers market.

 

Tooele County 2008-2009

Published March 9, 2010 Home Sales Stats ’08 , Home Sales Stats ’09 , Tooele County Real Estate 1 Comment
Tags: real estate stats, tooele

Tooele Real Estate didn’t change much when looking at the number of homes sold. Median sold price decreased about $13,000 and average sold price decreased about $15,000. Active listings are close to $200,000.

Slowest Month of Home Sales for Utah County in nearly a Decade.

Home Sales haven’t been this slow in Utah County in almost Six Years. According to the Wasatch Front Regional MLS statistics, November had only 271 MLS listings sold during the month of November. These numbers are unofficial, and will likely rise slightly, but the last time there were this few homes sold in a single month was January of 2003 when there were only 263. Other than that month, home sales in Utah County haven’t been this low since February of 2000.

The good news is that home prices continue to decline and become more affordable. The median list price of homes for sale in Utah County has dropped to $261,000 in the last month. The median sold price of homes sold is 21% less at $219,900. With all the competition still on the market, these prices should continue to drop. There are still 4,458 active home listings in Utah County. At Novembers sales pace it will take 16.3 months to sell of the existing supply of homes for sale.

Salt Lake Home Sales Up, Look to Go Up More

Published March 19, 2010 Home Sales Stats 2010 , Salt Lake Real Estate , salt lake county 1 Comment
Tags: home sales, Salt Lake

Unlike the other regions in Utah, Home sales in Salt Lake were actually up last month. Residential sales for real estate in Salt Lake during February were up 3.5% compared with February of last year, and were up 17.2% compared with January. This is positive news for the health of the Salt Lake real estate market. With the expiration of the home buying tax credits in November and the extension set to expire in April, most areas February sales were relatively unaffected by the stimulus. Home sales in Davis, Weber, and Cache counties were down in February.

Monthly Home Sales Numbers in Salt Lake County

The number of pending sales in Salt lake is incredibly high right now. There are currently 1668 homes in Salt Lake County currently under contract. This means there will be a very high number of real estate closings in Salt Lake over the next few months. February had 606 home sales in Salt Lake County, with the number of homes under contract, we could easily double the total homes sold during April.

Prices of sold homes in Salt Lake County have been up a little bit over the past few months. During February, the average price of homes sold was $247,000, and the median price point was $210,000. The price of homes listed for sale continues to drop. The current median list price of homes for sale in Salt Lake is $226,900, with an average listed price at $305,915.

Price trends of homes for sale in Salt Lake

The gap between list and sold prices continues to improve, another indicator of a much more healthy real estate market.

The number of homes for sale in Salt Lake continues to increase. Right now there are 7566 active listings. This is nearly 600 more homes on the market as there were a month ago.

Salt Lake County 2008-2009

Published March 11, 2010 Home Sales Stats ’08 , Home Sales Stats ’09 , salt lake county Leave a Comment
Tags: real estate stats, salt lake county

Salt Lake County Real Estate sold 300 more homes in 2009 than in 2008. Average prices decreased $20,000 and median sold price decreased about $13,000.

About 80 less Salt Lake County Condos sold in 2009. Prices also declined but only slightly. Inventory is quite high at 11 months.

Cottonwood Heights homes: The number of homes sold decreased 12%. Median sold price decreased from $290,000 to $263,500. Today’s median listed price is close to $300,000.

Draper homes: Home sales almost increased by one quarter while median and average sold prices dropped close to 10%. Median home prices are $100,000-$200,000 higher than sold prices in several other cities in the county.

Herriman homes: Herriman experienced the largest percentage increase in number of homes sold from 2008-2009. Sold price dropped over 10% from the 300’s to the 200’s.

Holladay homes: Holladay was the only city to actually see average sold price increase. Median price decreased, but only by about 2%. There are several multi-million dollar homes as average listed price is almost one million dollars.

Kearns homes: Numbers all slipped by over 10% in Kearns. Median and average sold price were both in the mid 100’s and current prices are only about 1% higher than that.

Magna homes: Magna also saw numbers fall by over 10%. Current listed price is actually about 2% lower than median sold price in 2009. With inventory close to 9 months, buyers appear to still be in control.

Midvale homes: The number of homes sold stayed about the same in Midvale as median price decreased 9% to $195,000 and average sold price decreased 9% to $201,083. Active median home price is $209,900

Murray homes: Average and median sold price both went down about $10,000. The number of houses sold also decreased a small percentage and slipped from 221 to 208.

Riverton homes: While the number of homes sold increased 6.63% from 347 to 370, median and average sold price decreased about that same percentage. Median prices are in the high 200’s.

Salt Lake City homes: Houses sold was almost exactly the same in 2009 as it was in 2008. Sold price in 2009 was lower by about $15,000-$25,000. About one quarter of the county’s active listings can be found in Salt Lake City.

Sandy homes: Median sold price decreased $20,000 as average sold price decreased over $30,000. Lower prices may have been the cause of a 10% increase in home sales.

South Jordan homes: Homes sold in South Jordan increased 15% to 566. Median price fell from the mid 300’s to the low 300’s and average price fell 13.5% to $330,321. Inventory is one of the highest in the county at 9.63 months.

Taylorsville homes: Numbers slightly decreased across the board as home sales slipped 3.8%, median price decreased 4.74% and average sold price went down 5.76%. Median listed price is very close to median sold price from 2009.

West Jordan homes: A 3% decrease brought West Jordan sales from just over 1,000 to just under 900. Sold prices slipped to the lower $200,000 range.

West Valley City homes: While numbers only slightly decreased 2.5%, median and average sold price both dropped by just over $20,000.

Real Estate in Weber County

Home sales in Weber County were substantially down during October. Compared with 2007, home sales were down by 25%. Only 221 residential properties were sold in all of Weber County including Ogden, North Ogden, Roy, South Ogden, Farr West, Harrisville, Pleasant View, West Haven, Washington Terrace, Slaterville, Hooper, Riverdale, Eden, Plain City, Uintah, and Liberty Utah.

Although sales are down, average home prices have remained stable. The average sold price in October was $189,353 and the median price was about $166,000.

Current inventory of existing homes on the market has dropped slightly, but the ratio of active listings to homes sold the previous month is at the lowest point all year. At Octobers home sales pace, Weber County has 10.7 months of housing inventory.