SLC,Homes For Sale, County Report !!
There are 8189 Homes for Sale in Salt Lake County. Fourteen hundred and nine are condominiums according to the June 1, 2008 SLC homes for sale county report.
This report is a "thumbnail sketch" as my friend Jay Thompson, The Phoenix Real Estate Guy would say, of what happened over the last 30 days with homes for sale in Salt Lake County.
Salt Lake City Utah, homes for sale is not all It covers. The report deals with the activity of homes/condominiums available for sale during the last 30 day period. If you are a real faithful reader of this blog, you might even pick up on a trend or two in your local market. Thats why we report monthly, sometimes weekly .
Quarterly reports are good, but monthly reports allow analasis as it happens. Different areas can turn around almost overnight; what was a hot Real Estate market 2 weeks ago might show signs of coming apart today.
We'll show how many homes have been added to the areas inventory, how many houses actually sold and closed during that 30 day period, how many new home contracts have been written, and high, low, and median prices of those homes or condominiums.
You can also see what is happening in the Short Sale market, which some real investors use as a bell weather indicating the health of Real Estate in An area.
Since we are using statistics from the Wasatch Front MLS, this report may not include all of the Homes For Sale By Owner (FSBOs) as most of these homes are not listed on the MLS. Those houses that are listed, will be included.
A very large number of FSBOs are eventually sold by local Realtors.
The same is true of New Homes (new construction). Most builders employ agents to staff model homes and represent the builders interest in the home or condo purchase. These homes are rarely listed across the MLS. (see buying a new home). Examples of this are the New Homes in Daybreak in South Jordan, and most of the New Construction @ Rosecrest in Herriman.
Total number of Salt Lake County Homes Listings:
Excluding most FSBOs and new construction, there are 8189 homes for sale in SLC on 6/01/08.
Fourteen hundred and nine are condominiums. Thats a very significant 17% for condos in Salt Lake Valley.
SLC Homes Activity Last 30 Days:
During the last 30 days, Salt Lake Realtors listed 1975 homes for sale, and 409 condos to buy.
During that same time 855 homes and condos were sold and closed.
In May SLC Realtors wrote 1043 contracts for either a home or condo.
Bank Owned, REOs, Foreclosures, Short Sales, And Homes needing Third Party Approval:
In Salt Lake there are 608 distressed properties, IE: Bank Owned, Foreclosures, short sales and homes that need approval from a lein holder to make a sale.
Fourty seven of these are Condominiums.
One hundred thirty eight homes or condos have been added to the MLS, Homes for sale over the last 30 days.
Homes or Condos put under contract was 91.
During May, 65 Houses or Condominiums were sold and closed.
Over the last 30 days, 107 single family homes were withdrawn for various reasons.
Comments:
While the Salt Lake Valley shows more than a 7 month inventory of homes for sale, an unusual amount of these would take that long to sell in a sellers market ( which this is not). Much of this inventory is of the Luxury Home category and distorts the actual time to sell a house.
You will be interested to look at the upcoming reports from various cities around the Salt Lake Valley. The difference in the reports, one city to the next in the SLC prove the adage that all Real Estate is local. Be sure to watch for reports next week for homes for sale in South Jordan, West Jordan, Riverton.
There is some real interesting information on short sales in Herriman and the high number of homes in the $6 to $700,000 range and forecasts about what should be done.
If a condominium lifestyle is what your looking for, then be sure to check out the Sandy City, or Murray reports as they offer the greatest number of condos and town homes.
You can access all 8100 homes for sale in SLC by visiting our website @ Salt Lake Homes. You'll get pictures, prices, locations with maps and important information about the homes or condos for sale.
Looking for more Real Estate information, articles or tips on buying a home? Stop by Salt Lake Real Estate and explore what we think is the best resource in the Salt Lake Valley.
Thanks for being here, and thanks for your interest in the SLC homes for sale, county report!!