Sandy/Draper Homes For Sale Information-8/01/08
The Sandy/Draper homes for sale report for 8/01/08 shows 1094 homes or condos listed in the Sandy/ Draper area of Salt Lake City as "homes for sale". Twenty per cent of these homes are condominiums. The average price of one of the 114 homes sold in Sandy City and Draper last month was $351,804 just a bit over the average listing price. That price equates to $122 per sq ft a decline of just over $1.00. Days on market jumped just a fraction compared to last years statistics, from 75 to 77 DOM.
The information contained in this Sandy/ Draper Real Estate, "homes for sale" market analasis is provided by the Wasatch Front MLS, from home listings supplied by Realtors from around the Salt Lake Valley.
While the numbers are from the MLS, any commentary is the opinion of Group1 Real Estate Agents. It is just that, an opinion, not legal or accounting advise, or recommendations outside the agents area of expertise.
This report will not include most of the homes for sale by owner, (FSBOs) as these houses are rarely listed across the MLS. However it should be noted that a very high percentage of these homes/condos are sold by Utah Realtors.
Likewise New Homes, (new construction).
Most builders employ agents to sell their own homes/condos from Model Home complexes. Most of the time these new homes are not listed, and the sales agent is an employee, (paid by) the new home builder. Good examples of this would be the Rosecrest development in Herriman or the Daybreak community in South Jordan . Both of these communities have an extensive model home presence. Keep in mind that unless you take your own agent to view the Models, you have no representation. You should, it's FREE!!! Read how to shop for a new home.
Whether you are a Real Estate Investor, home buyer, or part of a family that is considering re-locating to Salt Lake City or any other town in the Salt Lake Valley, we hope you will find this report helpful. and the Real Estate information timely.
Homes for sale in Sandy/ Draper:
There are 1094 homes for sale in the area as of 8/01/08.
221 of these are Condominiums.
This year, so far,1102 Sandy/ Draper homes have been sold.
236 of these homes have been condominiums.
Sandy/ Draper Homes activity last thirty days:
In the last thirty days, 280 new home listings have been added to the homes for sale listings.
105 Sandy/ Draper homes were sold and closed in that same time frame.
That represents an increase of 7 housing units sold over last month.
92 new contracts were written by Salt Lake Realtors.
Bank Owned, foreclosures, HUD homes, And homes that need 3rd party approval:
The total number of distressed homes in Sandy/ Draper is 119.
Thats only a little over 10% of the total homes listed.
24 of these homes/condos have been added within the last 30 days.
7 homes have sold and closed in the last 30 days.
9 distressed properties were placed under contract last month.
The number of Bank Owned, REO, HUD, Short Sales sold this year is 65.
That represents less than 6% of the total homes sold.
About Sandy/ Draper homes for sale:
Sandy Utah has long been the most dynamic of the Salt Lake bedroom communities. Sandy, over the years has provided Utah families a very diverse selection of homes for sale. Horse property, Condominium living, Luxury homes, golf coarse communities as well as multi-family housing. Draper has been more or less an extension of that and has continued to develop a broad range of housing products for the Utah home buyer or Real Estate Investor.
Home prices have declined modestly over the last 12 months, (less than 2%) and while the national press named Utah number 10 in the country in number of foreclosures, we don't believe that the numbers support their findings for the Sandy/ Draper area.
A 13+% decline in home sales from June, 08 to July, 08 bears watching though and if that trend develops further, those modest price increases will quickly turn around.
Sandy/ Draper shows a modest 10% inventory of Foreclosures, Bank Owned and short sale homes. Not good, but not approaching the 25% stats we have seen in areas of California, and Arizona.
New home construction has slowed except in niche markets and the absorption rate which is currently over 10 months will remain steady or continue to decline slightly for the next year.
We hope this report, and companion reports featuring homes for sale in other towns in the Salt lake metroplex have been helpful. look for market statistics for Herriman, South Jordan and West Jordan on this same site.
To have a look at the 8126 homes for sale in Salt Lake County, or the the homes for sale in your area, go to our web-site @ Salt Lake Homes. You can access pictures, prices, Maps, directions and pertinent information about homes available across the Salt Lake Valley.
To talk to a real live Realtor call 801-567-0946. For any additional Real Estate Information stop by Salt Lake Real Estate and enjoy hundreds of tips about the home buying process. Whether you are looking for a Real Estate Investment or a house to look at, you can find it there. And it's FREE.
Thanks for being here and thanks for reading the Sandy/ Draper Homes for Sale report of 8/01/08.