Bountiful Condominium Market
Semi-Annual Report: July 1, 2007 - June 30, 2008
| Median Condo Price
(Sold) |
$150,000 |
| Average Condo Price
(Sold) |
$171,728 |
| Low Condo Price
(Sold) |
$82,000 |
| High Condo Price
(Sold) |
$376,000 |
| Number of Condos Sold |
93 |
| Average Days on Market Until Sold |
41 |
| Dominate Price Range |
$100,000 - $199,999 |
| Dominate Price Range % of Total |
77% |
Search for Bountiful Condos
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|
Demand
|
Bountiful, Utah
residential home demand is
down the first
six months of 2008
compared with the
same period in 2007.
The number of
residential
properties sold
decreased by 30%.
The condos sold in
Bountiful constitute
31% of the condos
sold in Davis
County. It takes an
average of 41 days
to market a condo
until it is sold.
This is an average
of 14 days less to
sell a condo in Bountiful
than for the Davis
County average.
There are 14 condo
sales currently
pending. |
|
Supply
|
Bountiful has 71 condos
currently listed on
the market. This
constitutes a 9.2
month
supply of condos on
the market.
Townhouses make up
70% of the current
condos listed. The
current listings
have spent an
average of 101 days
on the market. |
|
Price
|
Bountiful home prices are
falling.
The average
residential price
decreased by $14,081
the first half of
2008 compared with
the same period in
2007. That
is a 5%
downturn. The average
condo sold price is
$150,000. Current
condo listings range
in price from $83,900 to $454,449. |
|
Financing
|
The majority of
financing is by
conventional loans,
constituting 59.4%.
Cash purchases 9.1%
while FHA makes up
26.2% of home
financing in Bountiful. |
|
Conclusion
|
The Bountiful, UT real
estate market is
showing falling
demand and prices.
The current supply
of condos on the
market will take
well over 6 months
to sell. Bountiful
is currently a buyers
market. |
Source:
Wasatch Front Regional
Multiple Listing Service and
condosUtah.com.
Figures are deemed reliable
but not guaranteed.
________________________________________________________
Search for Bountiful Condos
Barry J. Preusz,
REALTOR®, Downtown Salt Lake City Condo Specialist,
Equity Real Estate,
7090 Union Park Center, Midvale Utah, 84047
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