Cottonwood Heights, UT

We still are having a low percent of new listings being SOLD. Currently .13 % on a year over year, YTD comparison and we need positive % of listings sold, with positive price action to confirm market bottom.

Please see data below.

PRICE ACTION

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

SUMMARY

Currently we are not seeing the needed positive price action 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.

Thank you

The year is halfway over and real estate is still rolling along in Cottonwood Heights Utah. After six months there are 220 active home and condo listings in Cottonwood Heights Utah. The median price of these listings is 375,000 while the active price is substantially more at $509,798. Homes are selling at fairly near the median price as the median sold price of homes in Cottonwood Heights in the first half of 2008 went for $310,000. 132 homes were sold in the first half of the year and at Q2's sales pace there is currently 8.1 months of real estate for sale in Cottonwood Heights.

Is This A Good Time To Buy A Home?