Utah Real Estate Market Conditions

The model home and sales office at Bear Lake Lighthouse are now open.

This is a great community with affordable recreation and second homes. When you're up for Raspberry Days stop by the model home for a free Raspberry shake.

Lots are going fast, and there are special incentives for those ready to build, like free recreational vehicles, atv's, fourwheelers, and a paddle boat. You can also see the model home when you view the Bear Lake Parade of homes.

See more details by visiting: www.bearlakelighthouse.com

The Bear Lake Lighthouse community is listed by Cornerstone Real Estate Professionals of Northern Utah.

North Salt Lake Real Estate was one of the few to see an increase in number of homes sold.  When it comes to sold price, North Salt Lake was quite a bit worse than the county average.  Median sold price decreased 9.32% and average sold price decreased 31.66%.  North Salt Lake is currently the city with the highest markups on price in the county. 

One of the larger decreases in number of homes sold was experienced in Layton.  Number sold went from 228 to 191 which is still actually more than what any other Davis County city sold.  Sold price of Layton Real Estate also decreased.  Median price decreased 2.61% and average price decreased 4.35%.  Current inventory is almost 7 months and there are more than double the amount of homes in Layton for sale than there are in any other city.

Real Estate in Kaysville experienced the largest increase in number of homes sold, increasing 32%.  Median sold price of Kaysville homes also increased but average sold price decreased 18.57%.  Kaysville currently has 158 listings and 6.4 months of inventory.

Farmington went from selling 44 homes to selling 41.  Median sold price of Farmington Real Estate decreased 4% but average sold price increased about 4%.  Today's median home prices are in the mid 300's and average prices are in the mid 400's.  With 139 active listings, inventory in Farmington is 10 months.

Clinton Real Estate experienced decreases, but all were in the single digits.  Number of homes sold declined 6.8%, median sold price slipped 5.7% and average sold price decreased 5%.  Clinton has the lowest inventory at 5.2 months.  Homes in Clinton are priced pretty close to what they sold for in '08.

Homes in Clearfield experienced the largest drop in number of homes sold in the county.  38 less homes sold, decreasing 34%.  Part of the reason may be because sold prices increased slightly instead of decreasing like most other cities.  Average sold price of Clearfield homes took a small climb of about $1,000 and median sold price increased close to $7,000.  Current home prices are not far off from what they were sold at last quarter.

Homes sold in Centerville had a small increase from 23 to 29.  Centerville Real Estate was also one of the few to see an increase in price.  Average sold price stepped up 0.84% and median sold price increased 2.77%, taking sold price into the mid to upper $200,000 range.  Considering the 69 Centerville homes currently listed, median price is 9.64% higher and average price is 19.38% higher.

Bountiful Real Estate sold 15 fewer homes last quarter, falling 22.4%.  Sold median price fell about $27,000 and average price fell about $61,000.  There are 205 actively listed homes in Bountiful and inventory is getting close to one year.  Today's median price is in the mid-300's and average price is in the low to mid-500's.

The towns of Eden, Huntsville and Liberty are feeling the crunch.  Only 8 homes in the Upper Ogden Valley sold, which is only 3 less than what sold during the second quarter of 2008.  The worst part is that there are 170 homes listed on the market, rocketing inventory to over 5 years.  Both Median and average sold price of Upper Ogden Valley Real Estate dropped 34%, bringing sold price into the $200,000 range.  Sellers currently have median and average home prices over 50% higher, taking prices into the one-half million dollar range.