Syracuse, UT

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 (1.45) % 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.

In Syracuse Utah there have been 25 homes sold in the last 30 days. They have ranged in price from $114,000 to $572,384 with an average of 105 days to get sold. Homes under $250,000 are spending 128 days on the market compared to homes over $250,000 that are taking an average of 81 days to sell. At the time of this report there are 272 homes for sale in Syracuse. At this time we have 10.88 months of supply on the market. A 6 month supply is considered balanced, any more than that is a buyer's market. The market is very price sensitive. If you need to sell your home you must price it right from the start, any other pricing strategy is not likely to yield the results you are looking for.

For more information login to my website at http://www.jimmcewen.com

There are as of 1 October 2008, 283 active homes on the market with another 39 homes under contract for a total of 322. By calculating what percentage of the total the 39 homes under contract are you know if Syracuse is a buyers or a sellers market.

39 divided by 322 = 12%.

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

So Syracuse, 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.

There are as of 8 May 2008, 296 active single family homes on the market with another 59 homes under contract for a total of 355. By calculating what percentage of that total the 59 homes under contract are you know if Syracuse is a buyers or a sellers market.

59 divided by 355 = 1%.

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

So Syracuse, 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

Syracuse~Davis County Utah: February 2008 Real Estate Market Report

Welcome to the Heart of Utah Real Estate monthly real estate market report for Syracuse, Utah located in Davis County. As with previous market reports, this report will be broken down into two different sections, one for Single Family Residence's 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 Syracuse 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 February 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 (3/15/2008).
• “Active Listings” are all the homes currently listed with a real estate broker and listed on the MLS as of the date I pulled this report(3/15/2008).

Related Articles:

January 2008 Syracuse Real Estate Market Report

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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.