Real Estate Report- Draper UT,Homes For Sale !!!
This is the Sept, 08, Real Estate Report of Draper Homes For Sale, prepared for our clients and those looking for a partner that knows Real Estate along the Wasatch Front.
Our goal @ Group1 Real Estate is to provide the most timely & important Real Estate Information possible. Our hope is that if you are searching for Condominiums/ Homes to buy in Draper UT, listing a Draper home or looking for investment property,you will consider the professionals at Group1 to be your trusted partners. We also hope you'll consider our web site @ Salt Lake Real Estate to be a valuable resource for all your buying, selling, and investment needs.
Over the next few days, we will post individual reports for various towns and neighborhoods that make up the Salt Lake Market. Watch for reports on West Jordan, South Jordan, Taylorsville, Murray, Riverton,and Herriman UT.
Yesterday we featured stats and analysis on homes for sale in Sandy UT. As with all of our offerings those numbers are provided by the Wasatch Front Regional Multiple Listing Service, (MLS).
Real Estate Report-Draper UT, Homes For Sale:
There are 697 homes for sale in Draper UT,on 9/02/08.
116 of these Draper Homes are condominiums. (16.6%)
77 of these homes listed are currently under contract.
Prices range from a low of $ 165,000 to a high of $4,850,000.
Median price of Draper UT, homes for sale is $454,900.
Median price of Draper homes under contract is $369,900
Average price of homes listed in Draper is $603,654
Average price of homes under contract is $405,912
37% of the Draper homes for sale are priced between $200 and $400,000 dollars.
Median days on the market for homes listed is 70.
Median days on market for homes under contract is 98.
There are over 354 homes listed for sale in excess of $450,00 in Draper, UT.
Only 27 Draper homes priced over $450,000 are under contract.
Less than 13% of the homes for sale in Draper are distressed property.
There are 92 properties listed as HUD Homes, see Salt Lake Bank Owned Homes.
Draper UT: Homes For Sale Observations:
Draper Utah, like most Salt Lake Areas that have experienced rapid growth and tremendous expansion over the last few years, is facing a particularly sluggish market in the Luxury Home price range. Note that from the report we see that median sales price which indicates as many homes for sale above a price as there are below it, is $455,000 while the average price is over $600,000 dollars.
The price difference between homes that are listed and houses/condominiums under contract is about $90,000 dollars.This would indicate among other things that there is the possibility of further erosion of house values.No panic yet, as distressed homes IE: Short Sales, Bank Owned, (REOs) and HUD Homes are only 13% of the Draper houses listed for sale on the MLS.
Opportunities still exist and will continue to be attractive in the upper end houses, where new construction can be purchased "short" from builders without the hassle we have experienced with long term lenders.
To search all of the 697 homes for sale in Draper UT, as well as over 8000 houses listed in the Salt Lake Valley, stop by our website at Salt Lake Homes and see photos, map, prices, directions and basically the same information your Realtor uses to provide you house/condo searches.
I hope you have found this information helpful and you'll give us a call if you have any questions about Real Estate, or our report on Draper UT, Homes For Sale.