Sep 24 2008
Utah County Real Estate Update - September
More good news!
I am happy to report more decreases in listing inventory. The number of available homes in Utah County are 4,927. This is down from 5,088 last month and much better than the 5,316 available home’s in the middle of June this year.
455 units sold in August. August is the best selling month of the year. This is only a couple more homes than sold in July. But it is the high for the year so far. September should show some slowing following the typical pattern. This is illustrated in the decrease of under contract homes now at 690 units down from 781 a month earlier. Note: the number under contract is usually higher than the solds for the month because new homes under construction can be under contract for many months while the home is being built, and some contracts fail.
It is not hard to notice home price changes. The average sales price, year to date, for 2008 is down 7.57% from 2007. On high end homes you can expect 30 and even 50% declines. Homes are now more affordable for today’s buyers.
Visit Kennen’s agent profile for more information.