Recent Statistics for Salt Lake City Real Estate

Sales of previously owned homes in Salt Lake County in Februrary decreased 2% compared to February 2010.  The median price in Salt Lake County was down 13% compared to February of 2010. BUT year to date in Salt Lake County, we are still up 2% compared to 2010.  For more statistics, contact me at scott.robbins@utahhomes.com.

Check out this gorgeous Canyon Rim Remodel!

Price: $259,900

Bedrooms: 3

Bathrooms: 1 Full, 1 Partial

Garage: 2

Square Feet: 1,800

Not your typical Canyon Rim Bungalow. Custom 2-tone paint throughout with all new carpet. Great kitchen with newer cabinets, appliances and granite counters. Newer vinyl windows. Plantation shutters. This home offers great lighting and open space. The incredibly spacious basement has ample space and higher ceilings with an office area and a huge bedroom with private bath. Home offers great light but is surrounded by large tall pines for privacy and shade. The 2-car garage and large outdoor storage shed offer so much room for storage. What a beautiful view of Mt. Olympus. Come see this great home today. Call Scott for details 801.209.1120
http://www.circlepix.com/tours/6?wfrnum=1016143  Click here to see the tour!

Gorgeous Remodel in Cottonwood Heights

Price: $149,900

 Type: Condo/Townhome

Bedrooms: 2

Bathrooms: 1 Full, 1 Partial

Square Feet:  1,150

MLS ID:  999087

JUST REDUCED!! Best townhouse on the market ***Complete Remodel*** New carpet, paint, windows, roof, cabinets, tile, fixtures etc. Everything is new. Conveniently located in Cottonwood Heights and is within walking distance to the recreation center and schools. You will not want to miss seeing this remarkable place. Call Scott to arrange a showing 801-209-1120

http://www.circlepix.com/tours/6?wfrnum=999087

Amazing…Like A Model Home

Price: $285,000

 Type: Single Family

 Bedrooms: 4

 Bathrooms: 3 Full, 1 Partial

 Garage: 2

 Square Feet: 2,500

What an impeccable home in a beautiful gated community. 3 -tone paint, upgraded carpet, plantation shutters, and vaulted ceilings. A large open kitchen with granite countertops and stainless steel appliances. Upstairs has 2 master suites both with private baths. There is tons of natural light throughout the home. Beautiful backyard with a private setting with tons of shade, trees and privacy. Call Scott to arrange a showing of the gorgeous place 801-209-1120

 http://www.utahrealestate.com/report/public.single.report/report/photo/listno/993079

 

 

Housing Inventories Rise for Eighth Straight Month

Housing inventories rose in many U.S. cities for the eighth straight month in August in a sign of the continued headwinds facing a soft housing market. The number of available homes for sale in 26 major metropolitan areas at the end of August increased 0.4% from one month earlier, according to figures compiled by ZipRealty Inc., a real-estate brokerage firm based in Emeryville, Calif. The figures include all single-family homes, condominiums and townhouses listed on local multiple-listing services in markets where the firm operates. (See the full data). Inventories traditionally rise modestly in August. Zelman & Associates, a research firm, says listings have typically risen by 2% in August over the past 28 years. The less-than-average gain in inventories is troubling, nonetheless, because demand has fallen sharply since a tax credit to spur sales expired earlier this year. At the current pace, it would take 12.5 months to clear the backlog of unsold homes, according to the National Association of Realtors. A healthy market typically a six-month supply of homes. Inventories nationally remain at their highest levels since November 2008, according to Zelman data. The August inventory in the 26 markets tracked by ZipRealty showed a 10.6% year-over-year increase in the number of unsold homes listed for sale. A number of cities, including Houston, Philadelphia, and Orange County, Calif., remain at 18 month highs. “It’s across the country where you’re seeing really big inventory levels,” says Pat Lashinsky, chief executive of ZipRealty. The biggest gains in inventory continue to come from overheated Western markets where bidding wars on foreclosures pushed the housing supply down to very low levels one year ago. Las Vegas saw inventory rise by 9.3% from July, while listings were up by 4.6% in Phoenix and 3.8% in San Diego. Compared to one year ago, inventories are up by 59% in San Diego, 43% in Orange County, Calif., and 25% in Los Angeles. One big problem facing the market are the number of home sellers who can’t lower their prices any further without selling their home for less than they owe. Those sellers are often unwilling to reduce prices. Buyers, meanwhile, think prices are going to drop and interest rates aren’t going to rise soon, leaving them little incentive to make a deal now. Sellers and buyers “are waiting for the other one to make a move, and neither one is,” says Mr. Lashinsky. One of the biggest misconceptions about the market right now, he adds, is that there’s no interest in housing. There are plenty of buyers waiting the buy, he says, but not at current prices. On a monthly basis, inventories fell in half of all markets, led by Austin, Texas, which was down 3.8%, followed by Charlotte, N.C., (down 3%) and Boston (down 2%). For the year, inventories are down in Miami (8.6%), Chicago (2.2%) and Orlando, Fla., (2.2%). Inventories are falling in more markets in part because sellers are just taking their homes off the market. “Sellers have realized, ‘I just can’t get the price I want. Instead, I’m going to stay here,’” says Mr. Lashinsky. While that may work for buyers who just can’t lower their prices any further, he says, “if you think you can put it back on nine months later for 10% more, that’s not a very wise strategy.”

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