Salt Lake Homes and Real Estate Blog » Salt Lake City Homes

July 2010 Condo Sale Update: Number of Sold Properties went down!

Gerwin — Wed, 11 Aug 2010 08:19:33 +0000

Last month’s edge when it comes to condo buying and selling fell down on its numbers in the market. The number of sold condo in July 2010 went down to 26 of which dropped 58.73 percent from 63 sold homes of July 2009 and still down 54.4 percent from 57 sold homes of June 2010 in Salt Lake City Utah Homes.

The decline in the number of sold condo in Salt Lake City Utah Real Estate gave a median sold price of $172,500 of which rose 10.14 percent from $155,000 of July 2009. Home sales got a median CDOM of 111 and a 23.96 months of inventory.

So far, the number of actively listed Salt City Lake City Utah Homes for sale went down to 623 from 654 in July 2010 of which 59 went under contract properties in the market.

A recap of home sales in Salt Lake City: July 2010 numbers declined!

Gerwin — Sat, 07 Aug 2010 09:40:41 +0000

Single family homes dropped again in Salt Lake City Utah Real Estate last month. Around 160 homes were sold in July 2010 of which causes a decline from the year over year change of sales as well as in the monthly status of sales in Salt Lake City Utah Homes.Year over year change of sales dropped 43.86 percent from 285 sold homes made during July 2009 and it went down 30.7 percent from 231 sold home of June 2010.

While there was a decline in the number of home sales, median sold price remained the same for both July 2009 and 2010 of about $230,000 with a median CDOM of 55. The sales brought also 9.88 months of inventory in the market.

The actively listed homes for sale in Salt Lake City reached 1581 of which under contract properties went up to 298. As these sales are sloping downward, Salt Lake City Utah Real Estate are considering some factors in the market despite the fact that the tax credit for first time home buyers has just ended.

Salt Lake City’s Condominium Sale Numbers for Q2 2010! Viewing the increasing curve!

Gerwin — Thu, 05 Aug 2010 09:17:11 +0000

Indeed, it was another good 3-month buying and selling of condos for Salt Lake City Utah Homes as its sales for the 2nd quarter this year drifted up in the market. The number of sold condos went up to 660 from 413 sold properties in the first quarter of the current year. That’s nearly 60 percent increase of sales compared to previous quarter of the year and sales also rose 21.32 percent from 544 sold condos made during the 2nd quarter of 2009 and the having the same home sale numbers compared from Q2 of 2008.

Salt Lake City Utah Real Estate got a median sold price of $136,625 of which dropped from $148,425 of Q1 2010 and from $150,000 of Q2 2009. The average sold price went down also to $163,914 from $$260,920 of Q1 this year with an average CDOM of 136. The increase of sale this quarter shows that the market of Salt Lake City Utah Real Estate have been recovering from the previous recessions and also with the help of the just ended tax credit for home buyers in the market.

The graphs of sales in Salt Lake City Utah Homes can be viewed below.

Single Family Homes in Salt Lake City: Q2 Numbers Rose in 2010!

Gerwin — Thu, 05 Aug 2010 08:48:11 +0000

The number of single family homes in Salt Lake City for Q2 2010 rose against all odds in the market. The sign of recovery has now starting to appear in Salt Lake City Utah Real Estate after a 3 year decline on the number of single family homes for each 2nd quarter since 2007. According to Wasatch Front Regional MLS, around 6701 single family homes sold during the 2nd quarter of 2010 of which drifted up of which drifted up nearly 12.5 percent from 5958 sold homes during Q2 of 2009 and at the same time rose closely to 51.6 percent from 4420 homes were sold in Q2 this year.

The median sold price dropped to $201800 from 205000 of Q1 this year while the average sold price also went down to $238581 from $246115 of Q1 also this current year. The sales of 2nd quarter 2010 brought also 65 median CDOM and with an average CDOM of 120.

Here’s a graph showing the comparison of sales made during Q2 of 2006 up to 2010 in Salt Lake City Utah Homes.

Condo Sale Numbers in Salt Lake City: Sales drifted down 10.94% in June 2010!

Gerwin — Fri, 09 Jul 2010 08:46:29 +0000

It seems that the number of condo sales for the month of June was not that as productive compared to previous months this year. Around 57 condos were sold last month of which dropped 10.94 percent from 64 sold condos in June 2009. The monthly sale level was nearly the same. Salt Lake City Utah Homes got a median sold price of $166,944 of which dropped 5.12 percent from $175,950 of May last year and drifted down from $167,000 of May 2010.

The months of inventory was very high that it had reached 11.47 and still a buyer’s market in Salt Lake City UT Real Estate. As of now, the number of actively listed condominiums for sale in Salt Lake City Utah Real Estate reached 654 of which 58 are under contract properties. The median dollar per square foot was about $1050 and 90 median days on market.

Here are the graph showing the sales performance of Salt Lake City Utah Condominiums for Sale.

Number of Single Family Homes in Salt Lake City dropped 27.13% for June 2010

Gerwin — Fri, 09 Jul 2010 03:30:29 +0000

The rise and fall of numbers in the market always happen as time passes by. Sometimes we can’t deny the fact that sales can be up and sometimes down. Well, as a sort of overview, Salt Lake City Utah Homes seems to have a down market in terms of the number of sold single family homes last month. Homes sales dropped 27.13 percent based on the yearly sales levels. Salt Lake Utah Homes sold out 231 single family properties of which was lower compared to June last year and drifted down 27.1 percent from 317 sold homes last May 2010.

These low curves in the market gave a median sold price of $233,000 of which went up 3.43 percent from $225,000 of June 2009 and drifted up from $205,000 of May 2010.

The months of inventory went up to 6.82 from 4.91 of May 2010. Actively listed single family homes reached 1,575 of which 289 are under contract properties for the month of July this year.

See the graphs below which shows the performance of Salt Lake City Utah Real Estate.

Sudden Low in terms of Mortgage Applications: 8th Week declines!

Gerwin — Thu, 08 Jul 2010 07:56:59 +0000

Real Estate market seems to be keener and bolder in terms of mortgage rates and applications happening during these days.

Recent reports revealed that there was a downfall in the number of mortgage applications for purchasing properties last week which fell on the 8th week based from Mortgage Bankers Association.

In an adjusted basis, purchase index went down 2 percent a week ago as to compared with the previous week. Yearly level comparison showed off a 2.3 percent decline in the purchase index of which drifted down 34.7 percent of the same week a year ago.

Past statement coming from Michael Frantantoni, VP of MBA’s in the field of research and economic, stressed that
“For the month of June, purchase applications declined almost 15 percent relative to the prior month, and were down more than 30 percent compared to April, the last month in which buyers were eligible for the tax credit.”

Previews Mortgage Rates show some record in the market: In a 30 year fixed-rate mortgages, it had increased to 4.68 percent from 4.67 percent; 15-year fixed-rate drifted up to 4.1 percent from 4.06 percent; and 1 year ARMs went up to 7.20 percent from 7.05 percent.

Via Realtor.Org – (Mortgage Applications Decline for 8th Week)

Latest Real Estate Listings can be viewed also in Taylorsville Utah Real Estate, Herriman Real Estate, and Orem Utah Homes.

Rates of Mortgage set new record, getting low in the market this time!

Gerwin — Sat, 26 Jun 2010 07:43:00 +0000

What we can see in the real estate market recently is the turning down of mortgage interest rates which gave a new record ever. These changes brought some great news in the housing market, gaining and getting good numbers. Aspect of affordability gets in the scene as these mortgage rates come into reality that buying a home will be of at most affordability and the like. Prices of Utah homes will likely dropping probably next year and will somehow raise the sale curve as mortgage rate hits low this year.

The news coming from CNBC unveils all the mortgage details seen below.

Such information revealed that the dropping of mortgage rates in U.S., a week ago gave a lowest rate ever in 39 years in terms of 30-year fixed-rate loans in the market based from a survey released on Thursday by Freddie Mac being the second largest U.S. mortgage company.

In terms of 15-year fixed-rate and hybrid adjustable-rate mortgages, rate of interest drifted down as well. Some sectors struggling for these matters as home buyer tax credit had already expired last April 30 somehow low rates have helped regain the housing market since last year. According to Freddie Mac, the said fixed rate mortgage got an averaged rate of 4.13% of which drifted down from 4.20 percent of previous week and marked as the lowest since September 1991.

The most widely used loan in U.S., 30-year fixed rate mortgages, dropped as well to an averaged of 4.69 percent until June 24 of which set as the lowest rate according to Freddie Mac’s survey since April 1971. The latest survey noted that the recent rate of mortgage was lower compared to a week ago from 4.75 percent and from 5.42 percent a year ago.

via Homebuyers: Mortgage Rates Drop to Lowest Level on Record – CNBC.

See some latest market updates in Taylorsville Utah Real Estate, South Jordan Utah Real Estate, and Orem Utah Homes.

May 2010 Condo Sales in Salt Lake City went up 26.32%

Gerwin — Thu, 10 Jun 2010 09:16:27 +0000

During May 2010, Condo sales in Salt Lake City Utah Homes drifted up 26.32 percent based on the year over year change of sales. Sales last month went to 57 homes sold in the market which was higher compared to sales made during May last year.

The median sold price went down to $167000 from $178000 of May last year and up from $163125 of April this year. Salt Lake City Utah Homes for Sale has 10.75 months of inventory which means that it’s still a buyers market last month.

As of now, there are 613 actively listed Salt Lake Utah Condominiums of which 85 went under contract this month.

Here are some graphs which show the market performance happening in Salt Lake City Real Estate.

Salt Lake City’s May 2010 Home Sales: Single Family Homes went up 16.40%

Gerwin — Wed, 09 Jun 2010 08:37:55 +0000

Salt Lake Utah Homes has been consistent this year… Home sales from January up to May shows a five month increasing curve so far. Last month’s home sale numbers grew up again to 317 sold homes in the market. Home sales in May this drifted up 16.40 percent compared to May last year.

The numbers revealed that there was a 19.6 percent increased during May 2010 compared to April sales this year. The median sold price went down to $205000 from $225000 of may last year and was the same last April this year. There was a 4.91 months of inventory this time which means that it’s been a seller’s month for Salt Lake City Utah Real Estate.

Salt Lake Utah Homes For Sale has 1558 actively listed single family properties of which 336 went under contract as of the moment.

Below are the graphs showing the performance sales of Salt Lake Utah Real Estate.