Salt Lake Homes For Sale = 7,614 And Selling !
This report on the 7,614 Salt Lake Homes For Sale includes information about condominiums as well as houses listed in the Wasatch Front Regional Multiple Listing Service (MLS), today, June 10th, 2009.
The information is provided to once again remind our prospects and Real Estate clients that ALL Real Estate is local, and that national numbers that declare 40 to 50% of available houses for sale are distressed properties is not the case on the Salt Lake City Market.
It will not include those homes in Salt Lake County that are available for sale by owners (FSBOs) nor most of those new homes and condos sold by builders from model homes that are staffed by agents hired by the home builders.
Homes For Sale in Salt Lake:
Of the 7,614 homes for sale in the Salt Lake City area, 5,987 are single family homes and 1,627 are Condominiums. While this 21% ratio between houses and condos seems excesive, most of the condominiums for sale are new, and are located in the areas of Murray, West Jordan, South Jordan, and downtown Salt Lake City.
So far this year, 9,962 homes have been sold in SLC Utah..
Salt Lake Homes For Sale Under Contract:
Twenty seven per cent of the homes listed for sale are under contract. Since statistics show that 80% of these homes will close within the next 60 days, we can predict that about 1300 of these houses will not be available after Aug. 10th.
Only 19% of the Condos have contracts written, but even that will eliminate almost 250 housing units from the market.
Distressed Properties In Salt Lake City:
Bank Owned, Foreclosures, REOs, and Short Sales make up about 1,829 of the homes for sale in SLC. That's about 24% of all inventory in the valley. While that is a big number, it is a far cry from the 40 and 50% numbers headlined by the media.
The majority of these foreclosures and short sales are listed in the new housing developments in Herriman, Bluffdale, Draper and South Jordan. These pockets of new foreclosed homes, tend to skew the numbers and dont give credit to the stability of homes in Sandy, Holladay, Cottonwood and Murray UT.
Ad to that, the fact that almost 15% of these homes and condominiums are under contract and the Salt Lake Real Estate Market does not look as grim as most areas in our nation.
There is still hope for the home sellers, and certainly opportunities galore for the home buyer that is eager to take advantage of the most buyer friendly housing market I have ever seen.
If you would like to see all 7,614 Salt Lake Homes For Sale, stop by our website @ Salt Lake Homes Listings. You'll find prices, pictures, directions and information Realtors use to help you in your home search. It's FREE!
If you would like to talk to someone about what the next step in buying a home should be then give us a call @ 801-567-0946. We know about Salt Lake homes For Sale!