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Smithfield Utah Monthly Residential Real Estate Statistics-11/05/2010

Original Source: Smithfield Utah Monthly Real Estate Statistics

2010 Average days on market

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Average Days on Market for Smithfield Utah residential real estate in 2010 from 01/01-10/31/2010 is: 89

Trends in the 2010 Smithfield Utah real estate market are showing that homes sold quickly throughout the summer of 2010. We should expect to see homes sitting on the market longer through the rest of the year and into early 2011. Homes are taking on average 61 days less to sell in October 2010 as they did in January 2010. Average market time for a home is currently 3-4 months.

2010 Average Sold Price

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Average sold price for Smithfield residential real estate in 2010 from 01/01-10/31/2010 is: $155,420

The October 2010 Smithfield real estate market has seen a 3% increase in the average sold price since January 2010. The prices took a huge jump in June and July during the peek summer buying season. Other than those two months of the year, the prices have remained fairly constant. Based on these trends, the average sold price in Smithfield should remain steady through December 2010 and into early 2011.

2010 Total Residential Homes Sold

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Total Yearly Residential Sales 01/01-10/31/2010: 82

Through October 31, 2010 the Smithfield housing market has sold an average of 8.2 homes per month. The total number of homes sold started increasing in March and then peeked in June. This increase of sales was due to buyer’s trying to purchase a home before the deadline of the 2010 First Time Home Buyer’s Tax Credit.

2010 Average Price per Square Foot

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Smithfield Utah average price per square foot 01/01-10/31/2010: $76

The average price per square foot through October 31, 2010 was $76.00. The price per square foot peeked in August at the end of the summer buying season. The rest of the year the sold price per square foot remained fairly consistent. Let’s look at how the numbers are affecting the kind of home you can get today.

At $76 a square foot you would pay $190,000 for a 2,500 Sq. FT home (2,500 x $76 =$190,000.)

For more information on the Smithfield Utah real estate market please contact us.

All information from the WFR MLS.

Posted Friday Nov 05