Harrisville Condo Market
Semi-Annual Report: July 1, 2007 - June 30, 2008
| Median Condo Price
(Sold) |
$127,000 |
| Average Condo Price
(Sold) |
$128,420 |
| Low Condo Price
(Sold) |
$119,000 |
| High Condo Price
(Sold) |
$151,000 |
| Number of Condos Sold |
18 |
| Average Days on Market Until Sold |
28 |
| Dominate Price Range |
$100,000 - $199,999 |
| Dominate Price Range % of Total |
100% |
________________________________________________________
|
Demand
|
Harrisville, Utah condo
demand is down by
30% the first
six months of 2008
compared with the
same period in 2007.
Marketing time
to condos in
Harrisville from
"for sale" status to
"sold" is short at
an average of only
28 days. This period
of time is 32 days
less than the Davis
County average.
There are only two
condo sales
currently pending. |
|
Supply
|
Harrisville's
current condo listed
on the market stands
at 8. This
figure constitutes a
5.3 month
supply of condos on
the market.
Townhouses make up
nearly all of the current
condos listed. The
current listings
have spent an
average of 112 days
on the market. |
|
Price
|
Residential prices are
increasing in Harrisville.
The average
residential price
rose by $12,390
the first half of
2008 compared with
the same period in
2007. That
represents a 7.9%
increase. The median
condo sold price is
$127,000. All
current listings
fall in the price
range between
$100,000 and
$199,999. |
|
Financing
|
The majority of
financing is by
conventional loans,
constituting 43%.
Cash purchases 8.5%
while FHA makes up
37.7% of home
financing in Harrisville.
The average for FHA
financed purchases
is 36.4% in Davis
County. |
|
Conclusion
|
The Harrisville, UT real
estate market is
showing decreasing
demand and slightly
higher condo prices. The
small
selection of condos
currently listed on
the market and the
short marketing
time for condos
priced with the
market make
Harrisville a mixed
condo
market and gives no
clear advantage to
either buyers or
sellers. |
Source:
Wasatch Front Regional
Multiple Listing Service and
condosUtah.com.
Figures are deemed reliable
but not guaranteed.
________________________________________________________
Search for Harrisville 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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