Utah Real Estate Market Conditions

Real Estate in Kearns Utah is among the healthiest in the state. It is one of the few areas where there are currently less active lisitings than the number of homes that have actually sold this year. In the first six months of 2008 90 residential listings wers sold in Kearns. There are currently 82 homes for sale in Kearns.

Home prices in Kearns are very affordable. The list price of homes for sale is very reasonable and most sellers will get near their active price. For the first half of '08 the median price of homes sold in Kearns was $169,900. The current active list price is $184,900. At the Q2 sales pace, Kearns currently has 5.2 months of active MLS inventory, and because the homes are actually realistically priced, they really will sell.

So How's the Real Estate Market in Holladay Utah?

First off there are some really expensive homes for sale in Holladay, There are more than 110 homes on the MLS in Holladay priced above half a million. and 42 homes for sale that are priced at more than 1 million. The most expensive listing in Holladay is almost 8 million. Because of all these high end homes, the average price of Holladay Utah home listings is an outrageous $702,281. The median price, the price where half of the listings are more expensive and half are less expensive stands at 428,000. There are currently 280 active MLs listings.

During the first half of '08 only 108 homes listed on the MLS were actually sold in Holladay. The median price of these sold homes was just $285,000 and even the average price was just $304,856. That's less than half of the average list price. At the pace homes sold during the first quarter, Holladay currently has about 13 months of inventory, and that stat doesn't even account the fact that very few people are buying the really expensive Holladay Homes.

Perhaps the boom town of Herriman boomed a little too fast. It looks like many of the 426 active listings were purchased by investors who never intended on living in the homes, or builders who built them out of speculation. During the first half of 2008 approximately 220 Herriman Homes listed on the MLS sold. These homes sold with an median list price of 295,000 and a slightly higher average price at $309,000. Currently most of the homes for sale in Herriman are quite a bit more expensive than those that are selling. The median price of homes listed is $375,000  with an average price at $413,000. There are approximately 426 homes on the market. At the pace homes were sold during the second quarter, it will take 10.6 months to exhaust just the present inventory. Lets just hope more people want to keep buying the expinsive homes for sale in Herriman soon.

If you're trying to sell in Herriman, and can't figure out why your home isn't selling just look down the street, and then make sure your price is the most affordable.

Real Estate in Draper Utah is in pretty bad shape to say the least. While there are nearly 700 active residential listings, in the first half of 2008 only 260 homes were sold. These Draper Homes had a median list price of $340,000 and an average list price at $410,283. In contrast, the active listings median price is $470,000 and the average price is $615,915. In the second quarter 150 homes were sold in Draper. At this pace it would take 13.8 months to sell the existing MLS inventory of Draper Homes. Being that the current inventory is substantially more expensive, and the economy isn't exactly peaking, it's a pretty scary situation for many Draper home sellers. If you're trying to sell in Draper, make sure you price your home at or below the competition.

The year is halfway over and real estate is still rolling along in Cottonwood Heights Utah. After six months there are 220 active home and condo listings in Cottonwood Heights Utah. The median price of these listings is 375,000 while the active price is substantially more at $509,798. Homes are selling at fairly near the median price as the median sold price of homes in Cottonwood Heights in the first half of 2008 went for $310,000. 132 homes were sold in the first half of the year and at Q2's sales pace there is currently 8.1 months of real estate for sale in Cottonwood Heights.

Real Estate in Bluffdale is in about as unhealthy of a state as it can get. Trust me, you do not want to be building any spec homes in Bluffdale right now. For the first have of the year there were just 29 homes sold in Bluffdale. There are currently 142 homes for sale in Bluffdale.  That's nearly 30 months of inventory. The average price of the homes for sale is $587,999 and the median price is a whopping $530,000.