Cottonwood Heights Condo Market
Semi-Annual Report: July 1, 2007 - June 30, 2008
| Median Condo Price
(Sold) |
$218,000 |
| Average Condo Price
(Sold) |
$280,133 |
| Low Condo Price
(Sold) |
$112,000 |
| High Condo Price
(Sold) |
$1,350,000 |
| Number of Condos Sold |
48 |
| Average Days on Market Until Sold |
41 |
| Dominate Price Range |
$100,000 - $199,999 |
| Dominate Price Range % of Total |
40% |
________________________________________________________
|
Demand
|
Condo
demand is good
for Cottonwood
Heights, UT.
Condos in Cottonwood Heights
average only 41 days
listed on the market
until sold. That
figure is an average
of 16 days less than the
state average. Over the
past year, 48 condos
sold in Cottonwood Heights,
constituting 2% of
the total condo
sales for Salt Lake
County.
|
|
Supply
|
There
are currently 33 condos
on the market in
Cottonwood Heights
or 8.3 months of
supply available. It
is a buyers' market
but not a strong
buyers' market. Townhouses represent
27% of the current
condo listings. The average
number of days on
market for current
listings is 83
days.
There are 9 townhouses
currently listed.
Current condo
listings range in
price from $119,900
to $1,590,000.
|
|
Price
|
The
average residential
sold price
in Cottonwood Heights has
decreased by $8,517 so far this
year compared with
the average price
sold for the
first half of
2007. The Cottonwood Heights
median condo
price of $218,00 is
one of the highest in
Salt Lake County. Cottonwood Heights
condos and
townhouses have a
median price of $54,000
above the
state median
condo price.
|
|
Financing
|
Conventional
loans account for
over 71% of home
financing in
Cottonwood Heights.
Cash purchases
represent 6.6% of
the transactions.
FHA loans constitute
10% of current
residential
financing.
|
|
Conclusion
|
The
Cottonwood Heights condo
market is relatively
strong. Prices are
low and continue to
increase thereby
protecting the
investment of the
buyer. A good
selection is
available.
|
Source:
Wasatch Front Regional
Multiple Listing Service and
condosUtah.com.
Figures are deemed reliable
but not guaranteed.
________________________________________________________
Search for Cottonwood Heights 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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.com
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