Riverton, UT

We still are having a low percent of new listings being SOLD. Currently (3.48)% 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

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

This Information on Riverton UT Real Estate and Homes for Sale for Oct, 08 is provided by Group1 for clients looking to buy or sell a home in the Salt Lake Valley in the near future.

The information is designed to provide timely and important Real Estate statistics to those looking to evaluate Real Estate trends about homes for sale, prices for Riverton Homes/Condos, Homes listed in Riverton UT. and an overview of distressed properties. IE: Bank Owned, HUD Homes, REOs, Homesteps, & Short Sales.

These housing statistics are compiled by the Wasatch Front Regional MLS, and are a composite of all the homes listed for sale by local Realtors.

The scope of this report is all of the homes for sale, and condominiums listed for sale in Riverton Utah. Assessments of other cities and towns along the Wasatch Front that make up the Salt Lake Market will be analysed in other reports..

While we believe the statistics, and assumptions in this report are accurate, it can not contain information on all of the homes for sale in Riverton. New Homes in Riverton (New Construction) like those by Ivory Homes,@Summerfield, and Summerwood Estates, Western Springs by Perry Homes or Town-Homes and Condominiums in Countryview by Peterson Homes, are not included in this report, as New Home Builders generally sell homes from Model Homes, using other promotional means and employing their own representation. ( read our page about "buying a new home").

The same is true with homes for sale by owner (FSBOs). Even though a high percentage of these houses are ultimately sold by Realtors most FSBOs do not list their house on the MLS.

RIVERTON HOMES FOR SALE:

Total Listings of Riverton Homes For Sale:

• There are currently 335 single family homes for sale in Riverton.
• 17 are Condominiums.
• 60 of those homes (3 condos) were listed w/in the last 30 days.
• In the last 30 days 23 homes were put under contract. (1 condominium).
• Five of the 22 single family homes sold and closed last month was a Condo.

October Home Sales In Riverton Utah:

• The median list price of Riverton homes listed last month was $299,450
• The median sales price of homes sold in Riverton last month was $285,850
• This represents an 4.5% discount.
• The $113 per sq ft sales price was up $3.00 from last years $110 per sq ft.
• The median house sold in Oct, was a 4 bdrm 3 bth.
• Median days on market of 77 was an increase of 49 days over last year.

Riverton UT Foreclosures & Pre-foreclosures Information:

• Currently 63 homes for sale in Riverton are distressed.IE: Bank Owned, HUD Home, Homesteps, Short Sales, or require third party approval for any transaction.
• That represents almost 19% of the homes for sale in Riverton, Utah.
• None of the foreclosed or pre foreclosed homes are condominiums.
• 7 of these problem houses were listed in the last 30 days.
• over the last 30 days only 1 distressed house was placed under contract.
• During that same time 4 foreclosed homes were sold and closed.

We hope you have found this information helpful in your home search and that you will look to Group1 as a trusted resource for all of your Real Estate needs.

To view the over 8000 Salt Lake homes for sale or the over 625 homes for sale in Riverton mentioned in this report visit our website at Salt Lake Homes, you will have access to almost everything a Realtor would have to help you with your search for a house; pictures, maps, prices, terms and pertinent information. No registration is needed.

To look at all of the Bank Owned, Foreclosed or Short Sale Homes listed in one place check out Foreclosures. Come back often as we update daily and we offer the service at no charge.

Or you can call us @ 801-567-0946 to discuss this Information on Riverton Real Estate & homes for Sale Oct, 2008.

Think the Riverton Ut, Economic director saved money this weekend when 11 decision makers took a one day trip to of All places, Cucamonga, California? ( for those of you old enough to remember the old Jack Benney radio show, that is as in Anaheim, Azusa, and Cucamonga fame).

The trip was to give the Mayor, 5 city council members and 5 senior staffers a first hand glimpse at a 150 acre mixed use development that Riverton might mimic for a potential residential-retail development.

Since Riverton, at a population of 36,000 is only 20% the size of the California city, and the winters are about 70% cooler, we hope that our representatives understand scale and architecture better than they understand saving money.

Heres what I mean...... Our entourage is flying down and coming back the same day. This, according to the Salt Lake Tribune news report, will save on hotel bills. (probably 2 meals as well). Lets say $200.00 per person for a total savings of $2200.00.

So far so good.

Now let me quote further from the article:

"If were succesful, this will help to secure the financial future of the city, so it's a very significant thing to do".

"We would like to do something there that is regionally significant and of long term value".

"It's critical we make the right decision, because this will have a big impact on the west side".

"The site, with its proximity to two highways, would enjoy high visibility a-la Jordan Landing in West Jordan, and The District in South Jordan".

Here is my heartburn, it's from the same article, and it has to do with the Site.

"The city does not yet own the targeted Riverton property-between 12600 South and 13400 West, from Bangerter Highway to the future Mountain View Corridor-and current landowners have not yet formally agreed to the preliminary plan".

I think this also means that the current landowners have not formally agreed on a price either. Land may get very expensive in Riverton Utah. I'd bet on more than a $2200.00 Increase.

To paraphrase a popular TV commercial... 11 Council members to Cucamonga $2500.00, Money saved by coming right back, $2200.00, Value of hype to Riverton land owners... ABSOLUTELY PRICELESS

By the way city council, don't make me write about eminent domain.

Want to know more about the Real Estate market in Riverton ? Want to buy a home in Riverton, or an investment property? Stop by our website @ Salt Lake Real Estate and enjoy.

In the meantime, I don't think the Riverton Economic Development Director Saved Money this weekend!!!

Welcome to the beginning of my 2008 monthly real estate market report for Riverton, Utah located in Salt Lake County. This report will be broken down into two different sections, one for Single Family Residence and the second for Condos. Please keep in mind that the real estate market report I have provided is a compilation of a large price range for the entire city of Riverton and should not be confused as being the price in which your home will currently sell for. Also please take note:

• “SOLD” indicates all the properties that sold during the month of January 2008.
• “Under Contract” are the properties that have gone through negotiations and are currently awaiting their closing date as of the date I pulled this report (2/18/2008).
• “Active Listings” are all the homes currently listed with real estate broker and listed on the MLS as of the date I pulled this report(2/18/2008).

Riverton City Facts

• Approximately 46 miles to Hill AFB
• Approximately 24 miles to the Salt Lake International Airport
• Approximately 23 miles to Little Cottonwood Canyon and Big Cottonwood Canyon, which leads to many of Utah's ski resorts.
• Near some of Utah's Higher Education Schools.
• 23 Community and mini parks throughout the city of Riverton.
• Population of 41,392 in 2007 according to Wikipedia
• Neighboring cities are Herriman, South Jordan, Draper and Bluffdale.
• There are 6 elementary schools, 2 Junior High Schools and 1 High School
• 1 Golf Course

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If you are considering buying or selling a home in Utah, you deserve local expertise and advice to be provided by a professional in real estate. Julie Neerings, GRI is a Utah REALTOR® providing full time, professional real estate services to home buyers and sellers in the cities of Layton, Bountiful, Woods Cross,Murray, West Valley, West Jordan, South Jordan, Riverton, Herriman and all surrounding cities in Davis County and Salt Lake County.

You may be relocating to or from Utah due to a military relocation or civilian job transfer, if that is the case, when searching for a real estate professional outside the state of Utah, please feel free to Contact Me or call me at 801-859-9381 as I am more than honored to provide to you the contact information of exceptional agents across the U.S. and Canada.