Real Estate Riverton Ut,Homes For Sale Report
The April Real Estate Report for Riverton Ut, Homes for Sale is out and not much has changed from last month. We are looking at about a 7 month supply of homes to sell and prices have not decreased as much as they are probably going to.
Real Estate in Riverton Ut, The resale homes for sale in Riverton seem to be holding their price, but staying on the market a long time. They are competing with newer homes that are part of the financing fiasco. Whether you are a first time home buyer, looking to move up, a senior looking to downsize or improve security, A Real Estate Investor, flipping or rehabing houses, or a family transferring, needing to re- locate, there is a housing product in Riverton if you are patient.
This report (5/01/08) and its companion reports of the individual towns that make up the Salt Lake Valley, will cover current available homes for sale, houses/condominiums sold in the last 30 days, and contracts written on homes last month as well as homes and condominiums that were for sale but for whatever reason have been taken off the market in the last 30 days. We will also offer comment on some of these stats if we feel it will ad to the value of the information. All of the statistics are supplied by the Wasatch Front MLS, Any commentary belongs to Group 1 or its Realtors, or Associates.
We will pay particular attention to the recent phenomenon characterised as distressed properties, and listed as Foreclosures, Bank Owned (REO), HUD Homes, or Short Sales.
New homes (new construction) or homes for sale by owner (FSBOs) probably wont show up in this report, as few of these houses are listed across the MLS.
Riverton Ut, Homes For Sale:
There are 316 single family homes for sale in Riverton listed on the Salt Lake MLS. Seventeen, about 5.3% are condominiums. In the last thirty days 81 houses / condos were added to this inventory.
Bank Foreclosures/Short Sales:
Only 5.5% of Riverton Ut, homes for sale are HUD homes, bank owned, short sales, or houses that require third party approval before a sale can be made. The majority of the 23 distressed houses, are located in the Newer subdivisions and are less than 5 years old. The listed short sales and bank owned homes range in price from $190 thousand to $570,000 dollars.
Homes Sold Last 30 Days:
In the last 30 days 40 homes or condos were sold in Riverton Ut. Six of these were bank owned or short sales .
Under Contract Last 30 Days:
During April, 49 single family homes/condos were put under contract. Assuming that 90% of these houses close, there would be a projected 7 months housing inventory in Riverton. There were 3 contracts written for bank owned or short sales. New contracts written are a testament as to what is happening in Riverton. The 3 short sales under contract represent less than 10% of the homes sold in April 2008.
Average Days On Market:
I am reporting these numbers without conviction as most of you know how I feel about the way the days on market stats were gathered. The MLS has made changes and from now on I expect this part of our report to be meaningful. In the meantime it is reported that Homes in Riverton have been on the market an average of 50 days before they are sold.
Conclusions:
Overall, the resale home Real Estate market in Riverton Ut, is as healthy as any in the Valley. The pressure on housing in Riverton like most areas in the Salt Lake Valley is coming from newer, more expensive homes. If you don't see what you are looking for in Riverton, I invite you to visit our blog over the next few days to see whats happening in Herriman, South Jordan, Sandy City or West Jordan. See what they have to offer.
To see the over 7000 homes for for sale listed across the Salt Lake Valley, (this includes condos and P.U.Ds.) check out our website at Salt Lake Homes. You'll get pictures of houses for sale, the location of all of the homes, and the price of homes for sale in your area of interest.
To talk to someone about your Real Estate needs, or ask a Real Estate related question call 801-567-0946.
Our website, Salt Lake Real Estate is a wonderful source of information and provides tips on buying and selling a house, relocating to Herriman or investing in Real Estate. Check in, check it out, enjoy.
Remember to check the Riverton Ut, Real Estate and homes for sale report every month.