Washington Terrace, UT

In Washington Terrace Utah there have been 5 homes sold in the last 30 days. They have ranged in price from $118,000 to $142,000 with an average of 57 days to get sold. At the time of this report there are 43 homes for sale in Washington Terrace. That means we have 8.6 months of supply on the market. A 6 month supply is considered balanced, any more than that is a buyer's market.

Another factor that must be considered is the number of expired listings. In the last 30 days there were 6 listings that expired unsold. These numbers indicate the market is very price sensitive. Right now in Washington Terrace if it's priced right and marketed properly it sells quickly, if it's not it simply doesn't sell.

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There are as of 10 May 2008, 31 active single family homes on the market with another 18 homes under contract for a total of 49. By calculating what percentage of that total the 18 homes under contract are you know if Washington Terrace is a buyers or a sellers market.

18 divided by 49 = 37%.

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

So Washington Terrace, UT is currently experiencing a seller's market.

To find out more about market conditions in Utah just give me a call at 801-540-3825