Hello Everyone!
I just wanted to pass along May’s Real Estate Market Summary before everyone gets in vacation mode! If you are leaving town, make sure to take precautions as I have heard of several break-ins in Tooele recently. Especially remember to lock the garage door to your home, have mail and newspapers held or brought in for you bay a neighbor, and try to make it look like someone is there while you are gone. Here is the market information:
Tooele County
May 1-31, 2011
Number of Homes Sold: 49
Average Sales Price: $149,010.80
Average Price Per Square Foot: $66.35
Average Days on Market: 141
Tooele County
May 1-31, 2010
Number of Homes Sold: 64
Average Sales Price: $167,642.88
Average Price Per Square Foot: $72.05
Average Days on Market: 142
The Tooele County Absorption Rate report shows we have approximately 6 months of inventory when you include sold and under contract listings together in the equation. If the under contract listings are included with the active listings, the absorption rate increases to about 13 months of inventory.
Salt Lake County
May 1-31, 2011
Number of Homes Sold: 997
Average Sales Price: $219,694.87
Average Price Per Square Foot: $91.54
Average Days on Market: 122
Salt Lake County
May 1-31, 2010
Number of Homes Sold: 1,265
Average Sales Price: $233,338.78
Average Price Per Square Foot: $103.41
Average Days on Market: 109
The absorption rate for Salt Lake County is approximately approximately 5 months of inventory when you include sold and under contract listings together in the equation. If the under contract listings are included with the active listings, the absorption rate increases to about 9 months of inventory.
If you or any one you know is looking to buy or sell real estate, have them give me a call! Also if you know of anyone having trouble making their house payments, please call me. There are many options available, and I would be happy to help you or your friend work through the tough times that they are facing so foreclosure can be avoided! If you do not wish to receive these e-mails, please send an opt-out message to andreacahoon@remax.net. Enjoy your summer!
Andrea Cahoon, CDPE, CRS, TCRES, CNHS
RE/MAX Platinum
435-850-8167
P.S. You can view this market summary report, and others from past months at my blog located at http://inside-real-estate.com/andreacahoon/ . Interest rates are slowly rising so if you wish to refinance or purchase, now is the time!
Avg. Sales Price: 379,000
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