Salt Lake County Home Sales Last Week
Salt Lake County Home sales were pretty much as expected as far as numbers of homes and condominiums were concerned. According to the Wasatch Front Regional MLS there were 73 houses and 16 Condos sold from Sunday, Nov.11, thru Sunday, Nov.18th.
The biggest difference compared to the previous weeks report was in the home sales over $500 thousand dollars, which last week drove the average price for a home unrealistically high (4). This week with a more realistic number of sales above the half million dollar mark, the average home price is a more meaningful $258,000.00. Condominiums averaged over $195 thousand.
Listings were a different matter all together, and indicate continued problems for luxury sellers and home-builders. Of the 607 new listings, 41% were for homes valued (by the seller) at over $300 thousand while actual sales within Salt Lake County were only 18%. Of coarse this could translate into some fine opportunities for buyers and investors.
The good news for sellers is in houses for sale under $300 thousand, not only did they get the most action, (82%) but only 59% of the new homes made available were in that price range.
As usual I am not going to give much credence to days on market numbers (44). Any one can figure out that if 89 houses are sold in a particular time frame, and 607 new homes are offered for sale as happened last week in Salt Lake then the average time to sell out is going to exceed the 44 days.
Now your up to date. I hope this Real Estate Information has been helpful. If you'd like to discuss whats happening in your neighborhood, give me a call @ 801-567-0946. For more Real Estate information or to look at homes for sale, visit my website at Salt Lake Homes.
Thanks for chatting, Good Luck.