Andrea Cahoon Real Estate Blog | Tooele UT | Stansbury Park UT | Buying a Home, Selling a Home, Homes for Sale, Real Estate Market

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andreacahoon
Andrea Cahoon
Realtor

    CRS - Certified Residential Specialist
    TCRES - Tooele County Real Estate Specialist

Direct: (435) 850-8167

Office: (435) 882-8868



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REMAX Platinum
1185 N Main St
Tooele, UT 84074
(435) 882-8868


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Archive for September 2010

August 2010 Market Summaries for Tooele and Salt Lake Counties

Tuesday, September 7th, 2010

Hello Everyone!
I think I am beginning to feel fall in the air this week and have noticed some of the leaves are turning on some trees and bushes.  The market is still slow since the federal tax credits expired, but I am glad that the market will now be able to recover without any outside “stimulation” from the government.  It will be slow going for a while, but it will come back.  As children go back to school, the market will pick up a bit as people return to their routines!   I have received a request to include the Absorption Rate, which is simply the number of homes on the market divided by the number of homes sold.  The Wasatch Front Regional Multiple Listing Service reports this in the following increments:  2 month, 3 month, 4 month, 5 month, 6 month, and twelve month.  I will include the 2 and 3 month numbers in this report.  Here is the sales information for Tooele and Salt Lake Counties for August 2010:
 
Tooele County
August 1-31, 2010
 
Number of Homes Sold:  35
Average Sales Price:  $191,718
Average Price Per Square Foot: $71.02
Average Days on Market:  117
 
2 month Absorption Rate:  44.5 per month; 13.46 months of inventory
3 month Absorption Rate:  52.33 per month; 11.45 months of inventory
 
Tooele County
August 1-31, 2009
 
Number of Homes Sold:  50
Average Sales Price:  $167,438
Average Price Per Square Foot:  $84.55
Average Days on Market:  129
 
 
 
Salt Lake County
August 1-31, 2010
 
Number of Homes Sold:  731
Average Sales Price:  $253,605
Average Price Per Square Foot:  $99
Average Days on Market:  124
 

2 month Absorption Rate: 724.5 per month; 11.62 months of inventory
3 month Absorption Rate: 802.67 per month; 10.49 months of inventory

 
Salt Lake County
August 1-31, 2009
 
Number of Homes Sold: 1036
Average Sales Price:  $256,310
Average Price Per Square Foot:  $109.73
Average Days on Market:  118
 
Many of you have contacted me to assist you with challenging the market value of your property for tax purposes and I am glad I can help you!  If you feel your property is assessed to high, you must appeal before September 15.  I hope providing this information to you is helpful and informative.  If you do not wish to receive these e-mails, please send an opt-out message to andreacahoon@remax.net.  I appreciate all of your referrals and kind words!  THANK YOU!
 
Andrea Cahoon, CRS, TCRES
RE/MAX Platinum
435-850-8167
 
P.S.  Mortgage rates are still at record lows if you are wanting to refinance!  Let me know if I can help you.

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