Salt Lake Homes For Sale over $400,000 = 2296.
There are 2296 homes for sale in Salt Lake that are listed for over $400,000 dollars.
The reason I bring this up is because in the Lesley Mitchell article in the Salt Lake Tribune this Friday the point was made that the "downturn is most pronounced in the market of homes for sale for above $400,000".
In Salt Lake then Homes for Sale over $400,000 are a "big problem".
In other words, according to the article, we have 2296 problems in Salt Lake County.
I say, "not exactly" or "not yet".
One way to measure the depth of our problem is to see how many of these homes are listed as problem properties (distressed ) IE: Bank Owned, REOs, Foreclosures, HUD homes, Short Sales or homes that require third party approval before a home sale can be made.
So how deep is our Real Estate problem in Salt Lake as of today 8/08/08 ????
Of the 2296 homes listed for sale in the Wasatch Front MLS, only 238 are listed as "distressed". That's just a tad over 10% of all the single family homes listed for sale.
Ten % is a lot, but it's not like the 30 and 40% we hear about in parts of Arizona, and California.
Keep in mind that these numbers do not include homes for sale by owner (FSBO) or New Construction homes that do not appear on the MLS until the bank becomes involved with the builder and requires that the new home builder involve a Realtor in any Short Sale process.
The point here is that, YES, we have a problem with homes above a certain price level, YES, it could get worse, NO it's not the end of the world. In fact, for some, it provides an opportunity we haven't seen in Utah for a few years.
If you are a real investor, there are some great buys in homes for sale over $400,000.
If you are relocating to Utah, and and your price range is $400 to $600 thousand, this is the place.
If you are looking to upgrade the family home, and don't need to sell the old one to buy the new one, times have never been better.
To take an Internet look at all of the homes for sale in the Salt Lake Valley visit Salt Lake Homes. You'll get pictures, prices, maps, directions and almost everything the local Realtor has to make home buying decisions. It's FREE, we update daily so you can visit often.
For any Real Estate related questions, give us a call at 801-567-0946.
If you want, we can talk about Salt Lake Homes for sale for over $ 400,000 dollars.