Kaysville, UT

Kaysville homes sold decreased 16%, selling 8 less homes. Average sold price slightly increased from $285,445 to $288,616 and median sold price of homes in Kaysville went from $250,000 to $285,000. 13.5 months of inventory and 189 listings show there are plenty of homes on the market to choose from.

Home sales went down 17.27% in Kaysville. Median price was down 8.62 percent and ended the year at 263,000 while average price went down only 2.3% to $303,567. Kaysville homes are overpriced by about 20% and with 9.76 months of inventory, the current buyers market may force many sellers to reduce their prices dramatically.

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 (6.59) % 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, 203 active homes on the market with another 24 homes under contract for a total of 227. By calculating what percentage of the total the 24 homes under contract are you know if Kaysville is a buyers or a sellers market.

24 divided by 227 = 11%.

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

So Kaysville, 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.

The 5th Annual Great American Yard Sale will be held at the Davis High School south parking lot on 21 June 2008. If you have stuff you want to sell, just call 1-800-988-1225, ext. 923 and reseerve a slot today. If you don't have stuff to sell, just come on out and see all the treasures others have to sell. If you'd like to know more you can visit the web site at www.greatamericanyardsale.org and see photos of past sales.