- Hyrum Utah Real Estate Market Update
- 2008 Hyde Park Real Estate Review
- West Haven Real Estate Market Update
- Roy Real Estate Review
- Will Ogdens low housing costs keep the real estate market going?
- North Ogden Real Estate Market Update
- Hooper Utah Mid Year Real Estate Update
- Few Sold but lots of homes for sale in Eden.
- Don't you want to buy in Springville?
- Spanish Fork Mid Year Real Estate Update
Hyrum Utah Real Estate Market Update
Hyrum offers the most affordable real estate in Cache County. The median price of homes for sale in Hyrum is $159,900 and the average price is just $178,000. There are currently 55 active real estate listings in Hyrum. In the first half of 2008 43 homes were sold in Hyrum.
2008 Hyde Park Real Estate Review
Hyde Park real estate has a little bit of an inventory problem. There are a lot of high end homes for sale, and people just aren't buying expensive homes right now. Hyde Park city currently has 49 active MLS real estate listings. 33 of these listings are priced above $250,000. In the last six months there have only been 9 houses sold in Hyde Park more expensive than $250,000. The active listings>$250,000 have already been on the market for an average of 168 days. The majority of these homes are new construction spec homes that have never been lived in.
If you're in the market for a nice home in Hyde Park you definitely have some negotiating room. Most of the builders/sellers are to the point where they just want to sell. They have realized that they are not going to be making the huge profits they wanted.
West Haven Real Estate Market Update
Growth in one of Utahs fastest growing cities has slowed down substantially this year. There were about 100 homes sold in West Haven in the first half of the year. The average price of the homes that sold was $244,284 and the median price was $218,860.
There are currently 172 residential homes for sale in West Haven. This number continues to go up and doesn't appear to be declining any time soon.The average list price of these homes is $292,073 and the median list price is $289,000. These prices are higher than what most people are willing to pay.
It's a buyers market in West Haven, especially for the more expensive homes.
Roy Real Estate Review
Real estate in Roy Utah is actually moving along quite well. Homes are selling, and there isn't a huge surplus of real estate.
In the first half of the year 309 residential homes sold in Roy. The median price of these homes was $164,400. Currently there are 253 active MLS listings. These Roy homes for sale have a median list price at almost $180,000.
The low price of homes in Roy has helped its market to keep moving. People will always need housing, in today's economic times there just isn't as much demand for really big expensive homes.
Will Ogdens low housing costs keep the real estate market going?
Real Estate in Ogden is the least expensive for urban areas of Northern Utah. The 2008 median price of homes sold in Ogden is $125,000, nearly half of the Northern Utah median average sold price of $212,000. One of the big real estate problems with most of Utah is the huge surplus of high end homes. Ogden has very few "high end homes" but it still may be struggling from the fact that the average Ogden listing is still substantially more expensive than the average price people are willing to pay for Ogden Homes.
At the beginning of July, Ogden had 841 active MLS listings. This includes homes, condos, and occasionaly a mobile home. These listings had a median price 20% higher than the median sales price. At the second quarter sales pace of 115 homes sold each month, it would take 8 months to sell the remaining inventory.
North Ogden Real Estate Market Update
Approximately 140 listed homes were sold in in North Ogden in the first half of the year. The average sold price of these hoes was $201,304 and the median price was $182,750. In the second quarter, 60 homes were sold with a median price at $192,000 and an avarage price of $210,000. At the Q2 pace Ogden has 8 months of available inventory.
Ad the mid year point there were 157 homes and condos for sale in N. Ogden. The average price of these listings was $252,251 and the median price was almost $240,000.
Hooper Utah Mid Year Real Estate Update
How's the real estate market in Hooper?
Here are a few facts, and I'll let you determine for yourself. Currently there are 85 active MLS listings in Hooper. The median price of these listings is $282,000 and the average list price is $290,807. These listings have been on the market for an average of 99 days. The number of active MLS listings does appear to be on the decline.
In the first half of 2008 36 homes sold. These homes had an average sold price at $272,664 and a median sold price of $261,000. In the second quarter, 18 homes sold in Hooper.
Few Sold but lots of homes for sale in Eden.
The Eden Real Estate market has taken the extremes. While it was one of the hottest areas a couple years ago, it is now ice cold. Almost nothing is moving in Eden, and it has more inventory per Q2 sales than any other city in Utah.
Currently there are 165 residential homes for sale in Eden. During the first half of the year, only 30 MLS listings actually sold. In the second quarter, 16 homes sold, and at the pace of 5 homes sold a month it will be nearly 3 years before the present supply of inventory is exhausted.
The median price of homes listed for sale is $419,000. The median price of homes that have sold this year in Eden is $383,000. Unless some economic factors dramatically change soon, the Eden real estate market will be slow for a while so hold on tight.
Don't you want to buy in Springville?
For the first half of 2008, 115 homes sold in Springville. These homes had a median list price of $185,000 and an average price at just over $200,000. These homes really seem pretty affordable, so why aren't more homes selling?
Sure the economy is struggling, gas prices are ridiculous and financing is more difficult to obtain, but Utah County is still growing and people need places to live. One of the other reason homes in Springville aren't selling is because they are just too expensive. Currently there are 303 residential homes for sale in Springville. These listings have a median price of $225,000 (18% higher than the median sold price), and an average price at $293,000 (30% higher than average sld price). The bulk of the houses for sale are priced higher than what the average person is able and willing to buy, and in the near future this is not likely too change much.
On the positive, in the last two weeks the number of residential listings in Springville has actually decreased. If this number continues to go down the Springville real estate market won't be so weak.
Spanish Fork Mid Year Real Estate Update
The year is more than half way over. After half a year about 160 homes were sold in Spanish Fork. These homes median price was $205,000 and the average sold price was $231850. Currently there are 325 active Spanish Fork MLS listings. These listings have a median price at $240,000 and an average price of $275,851. The average home for sale in Spanish Fork Utah has been on the market for 92 days.
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