Clearfield, UT

Our real estate team - Team One - Coldwell Banker Residential Brokerage has been selected for the 2008 Best of Clearfield Award in the Real Estate Agents category by the U.S. Local Business Association (USLBA).

The USLBA "Best of Local Business" Award Program recognizes outstanding local businesses throughout the country. Each year, the USLBA identifies companies that they believe have achieved exceptional marketing success in their local community and business category. These are local companies that enhance the positive image of small business through service to their customers and community.

This was a great honor for our team.

As of 1 February 2009 there are 164 active listings on the market in Clearfield. Prices range from a low of $94,000.00 to a high of $349,500.00. There are currently 22 homes under contract. Take the two numbers and add them to gether and you get a total of 186 homes currently available. By dividing the 22 by the total of 186 you find that only 12% of the total available homes are under contract. If this percentage is under 25% then it is a buyers market and if it is over 25% then it is a sellers market. So once you have done the math you find the Clearfield City in currently in a buyers market.

Median sold price in Clearfield saw an increase of 3.06%, from $155,000 to $159,900. Average sold price saw an increase of 1.26%, from $165,250 to $167,366. The number of homes sold dropped 31.45%. Because there is only 6.13 months of inventory, the market is currently balanced. With 167 different choices, there are many affordable homes in Clearfield UT.

These numbers are not official.

We need Positive Price Action to confirm market bottom. One month of price improve isn't sufficient to confirm the market bottom. We need to see appreciation month over month for three months.

PRICE ACTION

Other good signs in addition to positive price action is lower DOM (days of the market), lower new listings and higher percent of new listings being SOLD.

On a year over year, YTD comparison currently (8.28) % of new listings are being sold.

SUMMARY

Currently we are not seeing the needed positive price action (along with other indictors) to confirm a market bottom. This is NOT a good time for conservative buyers to purchase. High risk tolerant investors and speculators are doing some bottom fishing.

For more details or just to chat about market conditions please feel free to contact me.

Data considered accurate... However is NOT Guaranteed. Contact your Local Realtor for the most up-to-date data.

There are as of 1 October 2008, 173 active homes on the market with another 29 homes under contract for a total of 202. By calculating what percentage of the total the 29 homes under contract are you know if Clearfield is a buyers or a sellers market.

29 divided by 202 = 14%.

If the % is under 25 percent then it is a buyers market. If it's over 25% then it's a sellers market.

So Clearfield, UT is currently experiencing a buyer's market.

To find out more about market conditions in Utah just give me a call at 801-540-3825.