Draper, UT Real Estate News

By Angela Bobowski
(South Jordan Realty)
Draper Real EstateWe here at South Jordan Realty continuously monitor local real estate statistics to keep our clients informed and ahead of the real estate trends.  Below you will find Draper real estate statistics for the week of April 14, 2008.Total number of homes currently for sale in Draper: 677Total number of homes sold in Draper in the last 12 months: 555Newly listed homes on the market: 51Number of homes going under contract (offers accepted): 15Number of homes sold: 0Number of homes being taken off the market: 24If you would like to know what your home is worth or a free list of homes for sale, please contact me.Angela BobowskiSouth Jordan Realty801-604-1888email: angela@bobowski.com
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By Benjamin Clark, Buyer's Agent - Certified Negotiation Expert
(Homebuyer Representation, Inc.)
The Deseret News has reported that "Owners of the SunCrest development have defaulted on $58 million in development loans, and residents there are worried the developer could try to sell its remaining assets and leave the state."Owners fear that amenities that the developers promised would be built (clubhouse, etc.) will never be built.The promised clubhouse (from the suncrest.com website):                     How would you feel if you had bought into such a development as many as 5 years ago, constantly being told the improvements were "just around the corner" and now hearing news like this?Can anything be done to save the community?Read the news article here: http://deseretnews.com/article/1,5143,695259163,00.htmlIf you are thinking about buying a home in the Salt Lake area, make sure...
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By Keith Jeppson - Salt Lake City Real Estate
(Everest Realty Group)
Draper home sales are in the tank. Home values have declined every month since December 2006. May values are very low and must be due to more townhomes being sold that detached. I'll expect June values to recover, but still be lower than March and April. The number of homes sold is also down a whopping 20.83% from May 2006.   Absorption of homes (rate at which it will take to sell current listings) is currently holding at 10 months. Draper is certainly in a buyers market. All stats were taken from WFRMLS on 6/9/2007.
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By Keith Jeppson - Salt Lake City Real Estate
(Everest Realty Group)
Draper Home & Condo Sales Report Draper home sales declined 44% from March 2007 and declined 25% from April 2006. Home values declined 1.75% from March 2007 but were up 19% from their April 2006 levels. Days on market increased by 26% from March and increased 57% from April 2006.       2006 2007 Change % Homes Sold 6045-25% Average Sold Price $407,942 $485,606 +19% Condos Sold 25 18-28% Average Sold Price $219,495 $279,945 +27% Average Days On Market 37 58 +57% Draper home values remain stable though sales volume has declined dramatically. Buyers seem to be holding off on homes in Draper with days on market increasing to a lengthy 58 days. Condo sales volume has also slowed. The decline in demand in Draper is consistent with other cities in salt Lake county with average home prices abov...
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By Keith Jeppson - Salt Lake City Real Estate
(Everest Realty Group)
Draper Utah home values rise 22%. The following table compares home and condo sales in Draper Utah between March 2006 and March 2007. Please be cautious in making any buy or sell decisions based on a single months analysis. Quarterly and trend analysis are much more meaningful than isolating a single month. But, it is interesting to compare our statistics to what we see in national and regional activity and trends.   March 2006March 2007Change %Homes Sold7174+4.23%Average Sold Price$388,657$474,152 +22% Condos Sold2617-34.62%Average Sold Price$201,621$248,257+23.13%Average Days On Market3947+20.51%Draper is one of the few cities in the valley that did not see a reduction in the number of homes sold. The volume was relatively flat. And consistent with the rest of the valley home values i...
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By Keith Jeppson - Salt Lake City Real Estate
(Everest Realty Group)
Draper residents are anxious to hear how we did in home appreciation compared to last year and especially compared to 2007 real estate projections.  If you recall, Utah ranked #1 in appreciation in 2007 with an increase statewide of 17.55%.  Draper City ranked 3rd in Salt Lake County for growth in home and condo values with an annual increase of 21.83%!  Let's see how we did with 1st quarter comparisons.1st Quarter 2006 Sales Compared to 1st Quarter 2007  20062007% ChangeHomes Sold184155-15.76%Average Home Sold Price$410,055$481,518+17.43%Condos Sold5048-4.00%Average Condo Sold Price$189,424$258,831+43.05%New Listings402534+32.84%Average List Price$470,238$547,546+13.29%Average Days on Market4353+23.26% The number of homes sold in Draper dropped dramatically while the average price of a...
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