Herriman Ut Homes For Sale Report !
This is the Sept, 08, Real Estate - Herriman UT Homes For Sale Report, prepared for our clients and those looking for a partner that knows Utah 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 Herriman, listing a Herriman 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, Draper, Taylorsville, Murray, Riverton,and South Jordan
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-Herriman UT, Homes For Sale:
There are 474 homes for sale in Herriman UT,on 9/04/08.
28 of these Herriman Homes are condominiums. (6%)
59 of these homes listed are currently under contract.
Prices range from a low of $ 159,900 to a high of $1,395,000.
Median price of Herriman UT, homes for sale is $348,500.
Median price of Herriman homes under contract is $295,000.
Average price of homes listed in Herriman is $386,552.
Average price of homes under contract is $317,388.
65% of the Herriman homes for sale are priced between $250,000 and $500,000 dollars.
65% of the homes under contract are under $350,000.
Median days on the market for homes listed is 71.
Median days on market for homes under contract is 72.
There are 79 homes listed for sale in excess of $450,00 in Herriman, UT.
Only 5 homes priced over $450,000 are under contract.
Less than 14% of the homes for sale in Herriman are distressed property.
There are 96 properties listed as HUD Homes, REOs, Short Sales or Bank Owned Homes.
Herriman UT: Homes For Sale Observations:
Herriman Utah, like its neighbor to the North, So. Jordan has experienced rapid growth and tremendous expansion over the last few years. Rosecrest a planned Unit Development initially set the tone by encouraging development of a wide range of housing choices, and by appealing to the diverse needs of Salt Lake families. Single family homes, Condominiums, Town homes, patio homes, Ramblers and horse property, or Ranchettes as some of the builders liked to call their developments provided choices and lifestyles for just about anyone. Recently however, home builders have concentrated on the upper end market, and the results are dismal. Over 20% of the standing inventory in Herriman is "distressed property" and a high percentage is New Construction. Our observation is that this trend will continue for as long as 24 months, and longer if interest rates on home mortgages should increase significantly during that time.
Note that from the report we see, that the median sales price which indicates as many homes for sale above a price as there are below it, is $348,500 while the average price is over $386,522 dollars.
The price difference between homes (average) that are listed and houses/condominiums under contract is about $70,000 dollars.This would indicate among other things that there is the possibility of further erosion of house values. Distressed homes IE: Short Sales, Bank Owned, (REOs) and HUD Homes are over 20% of the Herriman's houses listed for sale on the MLS.
Opportunities still exist for Investors and move up families that want to take advantage of a strong buyers market. New home construction is still a play as many builders have overbuilt in sub-divisions like Hamilton Farms, Herriman Heights, Rose Creek, The Cove @ Herriman Springs, and Walker Estates. Likewise many home buyers have over bought.
To search all of the 474 homes for sale in Herriman, 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 the Herriman UT, Homes For Sale Report..