3/20/08.. Report: Sandy Ut, Homes for sale
There are 740 homes for sale in Sandy Ut, as of 3/20/08. One hundred sixteen of those homes are Condominiums, Town Homes or part of a planned unit development. (PUD).
The information furnished is provided by the Wasatch Front Regional MLS, the same listing service used by Realtors thru-out the state of Utah. Any opinions however are those of the agents at Group1, and are given only as a service to clients, and are just that ..... Opinions.
Keep in mind that all homes for sale by owners (FSBOs) are not listed on the MLS. The same is true of New Home Construction. New Homes generally are offered for sale by builders agents @ Model Home Projects similar to Paradise Valley, Montrose Village, or The Cottages at The Rose Garden. The agents at these Model Homes work for the builder, and it is suggested that a new home buyer visit the project at least the first time, with their own Realtor.
Homes for sale in Sandy Utah: 740
This represents about 10% of the available single family inventory in Salt Lake County. The 116 Condos that are about 9.5% of all Condos and Town-Homes show the broad range of housing product available in Sandy City.
Listings for Sandy City Last 80 days: 515
Since 515 of these homes were listed w/in the last 80 days, 225 of these houses have been on the market almost 3 months. This is a much better way to figure days on market than what is normally done.
Homes sold Last 80 days: 159
At that rate, Sandy has a little better than a 4.5 month supply of houses. For many cities along the Wasatch Front, this would be an enviable housing supply. If we project supply based on contracts written during that same time (111), then home sellers in Sandy are sitting on about a 6.5 months inventory. Not as good, but still better than many Utah cities.
Bank Owned, Short sales in Sandy: 38
It's no surprise that with the healthy diversity of product and a more than respectable turn over of houses, there are not a lot of foreclosures, Bank Owned, or short sales in Sandy City. Also, New Construction of high end homes has not been as great as in other parts of Salt Lake. This new home surge ,like we have seen in communities such as Daybreak in South Jordan, and Rosecrest in Herriman has contributed heavily to the short sale phenomenon around the valley.
Effect of the new FHA funding program:
The recent changes to the FHA loan limits have given a shot in the arm to much of the homes for sale around the Salt Lake Valley. Areas most impacted were South Jordan, Riverton and Herriman where many luxury homes have been built. Homes in some of the more exclusive areas of Sandy have been effected as well. Areas like Willow Creek, Hidden Valley Estates, and Lone Peak Village where homes can sell in the half million to three quarter million dollar range have homes that can now qualify for a low down FHA mortgage. The new program increased loan limits from $362,790.00 to $729,750.00 touched almost 40% of the homes listed for sale in Sandy (295).
Conclusions:
Sandy City is home to more than 10% of the available single family housing inventory in Salt Lake County. Because of the wide selection of housing types and price ranges Sandy is among the leading cities in turning its housing inventory. Distressed properties for sale, IE: Bank Owned, foreclosures, or short sales are among the lowest along the Wasatch. We expect the Sandy Real Estate market to remain strong.
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Thanks for visiting, we hope we have been of help by providing you this Sandy homes for sale report.