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.…