Report-Real Estate-Salt Lake Homes For Sale, Oct,2008
This report on Salt Lake Real Estate and Homes for Sale is provided by Group1 for clients looking to buy or sell a home in the Salt Lake Valley in the near future.
The information is designed to provide timely and important Real Estate statistics to those looking to evaluate Real Estate trends concerning homes for sale, prices for Salt Lake Homes/Condos, Homes listed in SL and an overview of distressed properties. IE: Bank Owned, HUD Homes, REOs, Homesteps, & Short Sales.
These housing statistics are compiled by the Wasatch Front Regional MLS, and are a composite of all the homes listed for sale by local Realtors.
The scope of this report is all of the homes for sale, and condominiums listed for sale in Salt Lake County.
While we believe the statistics, and assumptions in this report are accurate, it can not contain all of the homes for sale in the Salt Lake Valley. New Homes in Salt Lake (New Construction) are not included in this report, as New Home Builders generally sell homes from Model Homes using other promotional means and employing their own representation. ( read our page about "buying a new home").
The same is true with homes for sale by owner (FSBOs). Even though a high percentage of these houses are ultimately sold by Realtors most FSBOs do not list their house on the MLS.
SALT LAKE HOMES FOR SALE:
Total Listings of Salt Lake Homes For Sale:
There are currently 8338 single family homes for sale in Salt Lake.
1454 are Condominiums.
1878 of those homes (345 condos) were listed w/in the last 30 days.
In the last 30 days 608 homes were put under contract. (102 condominiums).
128 of the 667 single family homes sold and closed last month were condos.
October Home Sales:
The median list price of Salt Lake homes sold last month was $245,000.
The median sales price of homes sold in Salt Lake last month was $225,300.
This represents an 8% discount.
The $111 per sq ft sales price was down 12% from last years $124 per sq ft.
The median house sold in Oct, was a 3 bdrm 2bth.
Median days on market of 77 was an increase of 60% over last year.
Salt Lake Foreclosures & Pre-foreclosures:
Currently 1215 homes for sale in Salt Lake are distressed.IE: Bank Owned, HUD Home, Homesteps, Short Sales, or require third party approval for any transaction.
That represents less than 15% of the homes for sale in Salt Lake.
About 7% of the foreclosed or pre foreclosed homes are condominiums.
275 of these problem houses were listed in the last 30 days.
over the last 30 days 105 distressed homes were placed under contract. (6 Condos).
During that same time 103 homes were sold and closed. (8 Condominiums).
We hope you have found this report helpful in your home search and that you will look to Group1 as a trusted resource for all of your Real Estate needs.
To view the over 8000 Salt Lake homes for sale mentioned in this report visit our website at Salt Lake Homes, you will have access to almost everything a Realtor would have to help you with your search for a house; pictures, maps, prices, terms and pertinent information. No registration is needed.
To look at all of the Bank Owned, Foreclosed or Short Sale Homes listed in one place check out Foreclosures. Come back often as we update daily and we offer the service at no charge.
Or you can call us @ 801-567-0946 to discuss this Real Estate Report on Salt Lake Homes for Sale Oct, 2008.