Herriman Condominium Market
Semi-Annual Report: July 1, 2007 - June 30, 2008
| Median Condo Price
(Sold) |
$189,900 |
| Average Condo Price
(Sold) |
$193,751 |
| Low Condo Price
(Sold) |
$157,500 |
| High Condo Price
(Sold) |
$252,400 |
| Number of Condos Sold |
48 |
| Average Days on Market Until Sold |
39 |
| Dominate Price Range |
$100,000 - $199,999 |
| Dominate Price Range % of Total |
63% |
________________________________________________________
|
Demand
|
Herriman, UT sold 48
condos over the past
year. Herriman is
located in the
southwest corner of
Salt Lake County.
Much of the housing
growth in the county
is concentrated in
the south. Condos in Herriman
average only 39 days
listed on the market
until sold. Herriman
condos take an average
of 6 days less to
sell than the
average for Salt
Lake County.
|
|
Supply
|
There
are currently 31
condos on the market
in Herriman for a
7.8
month supply. All
of the condos in
Herriman are townhouses. The average
number of days on
market for current
listings is 83 days,
18 days less than
the county average.
|
|
Price
|
The
average residential
sold price
in Herriman has
decreased by $12,302 so far this
year compared with
the average price
sold for the
first half of
2007. The Herriman
median condo
sold price of $189,900
is the lowest median price
in the booming
southern Salt Lake
County.
|
|
Financing
|
Conventional
loans account for
over 70.8% of home
financing in
Herriman.
Cash purchases
represent 2.4% of the
transactions. FHA
loans are at 16.9%.
|
|
Conclusion
|
The Herriman condo
market is growing.
Buyers would be wise
to purchase in the
growth areas of the
county. An excellent
selection of
townhouses make
Herriman a great
market to shop for
condos. Current
condo listings range
in price from a low
of $157,500 for a
2006 townhouse with
700
square feet, 1
bedroom, 1 bath and
1 carport in the
Boulders to $252,400
for a 2004 townhouse
with 1,543 square
feet, 3 bedroom, 2
bath, 2 car garage
in Monarch Meadows.
|
Source:
Wasatch Front Regional
Multiple Listing Service and
condosUtah.com.
Figures are deemed reliable
but not guaranteed.
________________________________________________________
Search for Herriman 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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