Sandy, UT Real Estate News

By Angela Bobowski
(South Jordan Realty)
Sandy, 84092 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 Sandy, 84092 real estate statistics for the week of April 14, 2008.Total number of homes currently for sale in Sandy, 84092: 279Total number of homes sold in Sandy, 84092 in the last 12 months: 306Newly listed homes on the market: 24Number of homes going under contract (offers accepted): 5Number of homes sold: 5Number of homes being taken off the market: 22If 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 Gordon Sloan, Salt Lake Homes For Sale, Salt Lake Real Estate
(Group1 Real Estate, selling houses in Salt Lake City Utah )
Have you heard the Sandy City ad campaign ? I'm talking about the one that makes me want to move. The one that makes me want to move my business, my Condo, my everything. It makes me want to shop, and go to the movies and even get my speeding tickets in Sandy City. "The Heart of the Wasatch" I really don't want to move, It's just that those folksy, down home, corny radio spots have made me FEEL like I wanted to move. I suppose thats what advertising is all about. Every time I hear the ad, I want to become part of a community that was voted the 23rd best place in America to live. I hear that southern drawl talking about saving money, and I immediately want to relocate to a city that hasn't raised property taxes for 20 consecutive years.  When I hear safety, I don't know why I dont buy a ...
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By Keith Jeppson - Salt Lake City Real Estate
(Everest Realty Group)
Sandy City home values fell slightly during the 2nd quarter and have softened to a 1.3% increase over 2nd quarter 2006 values. June values show a sharp increase. However, it is due to a larger number of homes above 5 bedrooms closing in June and is not representative of the Sandy Utah Home market as a whole. Without the June anomaly the 2nd quarter price decline would have been 6.5% over the 1st quarter 2007. The number of homes sold also continues to decline and for the 2nd quarter was 32.6% lower than the 2nd quarter 2006. Where will it go from here? Month Average Sold Price Change from Prior Year # of Homes sold Change from Prior Year Absorption Rate in Months 1ST Qtr $367,468 +23.6% 278  -8.6% NA April $347,703 +11.4% 99  -23.9% 5.6  May $341,323 -2.1% 111  -39.4% 6.0 June $380,196 ...
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By Keith Jeppson - Salt Lake City Real Estate
(Everest Realty Group)
Sandy home sales are flat. Volumes have fluctuated around 100 homes per month which is around 30% fewer homes than sold per month in 2006. Home values have also fluctuated over the last four months but at the end of May they are $500 higher than they were at the end of 2006. Sandy is in a neutral market with an absorption rate of 7.0 months. The NAR considers 6 months to be a balanced market between buyers and sellers. Absorption rate is calculated as the number of months it would take to sell the current listing inventory assuming the same level of solds. The absorption rate grew by almost 9% in May but that is likely due to the natural increase in listings during the spring as sellers put their homes on the market. I would expect the rate to decline during June. All stats were obtaine...
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By Keith Jeppson - Salt Lake City Real Estate
(Everest Realty Group)
Sandy Home & Condo Sales Report Sandy home sales declined 17% from March 2007 and declined 26% from April 2006. Home values declined 10% from March 2007 but were up 11% from their April 2006 levels. Days on market shortened by 14% from March but increased 16% from April 2006.       2006 2007 Change % Homes Sold 13096-26% Average Sold Price $312,155 $347,956 +11% Condos Sold 11 12+9% Average Sold Price $185,744 $274,342 +47% Average Days On Market 31 36 +16% Sandy home values remain strong though sales volume has declined dramatically. Buyers demand is still strong with days on market hovering around 35 days. Condo sales volume is fairly flat with limited new development of condos in Sandy. The limited inventory has driven condo values up 47% in the last year.   If you want any further i...
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By Keith Jeppson - Salt Lake City Real Estate
(Everest Realty Group)
Sandy Utah homes sales drop 22.06% while values rise 35.90%.The following table compares home and condo sales in Sandy 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 Sold136106-22.06%Average Sold Price$317,366$431,302+35.90%Condos Sold1820+11.11%Average Sold Price$157,004$272,508+73.57%Average Days On Market3442+23.53%Of all cities in Salt Lake County sandy had the largest increase in price from March 2006 to March 2007, a whopping 35.90%. And it did that while suffering a 22.06...
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By Keith Jeppson - Salt Lake City Real Estate
(Everest Realty Group)
Sandy City 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%.  Sandy City ranked 6th in Salt Lake County for growth in home and condo values with an annual increase of 19.27%!  Let's see how we did with 1st quarter comparisons.1st Quarter 2006 Sales Compared to 1st Quarter 2007  20062007% ChangeHomes Sold304278-8.55%Average Home Sold Price$297,248$367,468+23.62%Condos Sold3545+28.57%Average Condo Sold Price$198,039$283,294+43.05%New Listings683754+10.40%Average List Price$388,114$439,693+13.29%Average Days on Market3739+5.41% The number of homes sold in Sandy dropped slightly but values for the quarter incr...
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