I thought I would write today about the market activity for this past Aug., 2009.  The market was relatively busy considering families trying to finish up their summers and also getting into their new homes for the start of school.  Here is the market summary activity for Layton this past Aug., ’09:

• Total units of business: 275
• Total homes sold: 78      ($220, 121 Avg. Sales Price)
• Total condo sales: 5        ($173,061 Avg. Sales Price)
• Total new listings: 114    ($228,273 Avg. Listing Price)
• Avg. days on market: 71
• Financing type:  Cash (4)  Conventional (25)  FHA (44)  Other (1)  VA (9)

The median price range continues to carry the market with the majority of business being done in the $140K – $240K price range.  However, there were 5 sales just in the month of Aug.  in the price range of $400K – $750K which is a good sign that there are a few upper end homes that are moving.  FHA financing is also the most common financing because of the competitive interest rates and low down payment requirement.

The new listings are concentrated in the $160K – $$240K price range which is inline with the current sales.  This price range is a good price range for people who are looking to move up from their starter homes and are transitioning into a larger home.  This is a good time to take advantage of the market and get more home for your money.

**All statistics are provided from the Wasatch Front Regional Multiple Listing Service.