Eden Condominium Market
Semi-Annual Report: July 1, 2007 - June 30, 2008
| Median Condo Price
(Sold) |
$302,500 |
| Average Condo Price
(Sold) |
$303,320 |
| Low Condo Price
(Sold) |
$145,000 |
| High Condo Price
(Sold) |
$510,000 |
| Number of Condos Sold |
25 |
| Average Days on Market Until Sold |
103 |
| Dominate Price Range |
$200,000 - $299,999 |
| Dominate Price Range % of Total |
36% |
________________________________________________________
|
Demand
|
Eden, Utah condo
demand is up
slightly the first
six months of 2008
compared with the
same period in 2007.
The number of
residential
properties sold
increased by 6.9%.
However, it is
taking a long time
to sell condos in
Eden. It takes an
average of 105 days
to market a condo
until it is sold.
This is an average
of 45 days more to
sell a condo in Eden
than for Weber
County. |
|
Supply
|
Eden has 62 condos
currently listed on
the market. This
constitutes more
than a two year
supply of condos on
the market.
Townhouses make up
85% of the current
condos listed. The
current listings
have spent an
average of 175 days
on the market. |
|
Price
|
Home prices are
increasing in Eden.
The average
residential price
increased by $69,595
the first half of
2008 compared with
the same period in
2007. That
represents a 14.6%
rise. The average
condo sold price is
$303,320. Current
condo listings range
in price from $3,900
for a 7-day time
share at Wolf Creek
Village to $689,000
for a townhouse in
Moonridge. |
|
Financing
|
The majority of
financing is by
conventional loans,
constituting 62.2%.
Cash purchases 24.3%
while FHA makes up
8.1% of home
financing in Eden. |
|
Conclusion
|
The Eden, UT real
estate market is
showing increased
demand. The great
selection of condos
currently listed on
the market and the
extended marketing
time to sell make
Eden a buyers
market. |
Source:
Wasatch Front Regional
Multiple Listing Service and
condosUtah.com.
Figures are deemed reliable
but not guaranteed.
________________________________________________________
Search for Eden 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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