Layton Condominium Market
Semi-Annual Report: July 1, 2007 - June 30, 2008
| Median Condo Price
(Sold) |
$168,000 |
| Average Condo Price
(Sold) |
$169,785 |
| Low Condo Price
(Sold) |
$78,000 |
| High Condo Price
(Sold) |
$529,900 |
| Number of Condos Sold |
44 |
| Average Days on Market Until Sold |
54 |
| Dominate Price Range |
$100,000 - $199,999 |
| Dominate Price Range % of Total |
61% |
Search for Layton Condos
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|
Demand
|
Layton, 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 25%.
The condos sold in
Layton constitute
15% of the condos
sold in Davis
County. It takes an
average of 54 days
to market a condo
until it is sold.
This is an average
of 1 day less to
sell a condo in Layton
than for the Davis
County average.
There are 7 condo
sales currently
pending. |
|
Supply
|
Layton has 25 condos
currently listed on
the market, 22 of
the condos are
townhouse style
representing 88% of
the total condos for
sale. The 25 condos
currently for sale
constitutes a 6.8
month
supply. The
current listings
have been on the
market an
average of 48 days. |
|
Price
|
Layton home prices are
rising very slightly.
The average
residential price
increased by only
$93
the first half of
2008 compared with
the same period in
2007. The average
condo sold price is
$169,785. Current
condo listings range
in price from $129,900 to $346,480. |
|
Financing
|
The majority of
financing is by
conventional loans,
constituting 48.8%.
Cash purchases 3.7%
while FHA makes up
33.6% of home
financing in Layton. |
|
Conclusion
|
The Layton, UT real
estate market is
slipping. Demand is
down and prices are
nearly flat.
The current supply
of condos on the
market will take
just over 6 months
to sell. |
Source:
Wasatch Front Regional
Multiple Listing Service and
condosUtah.com.
Figures are deemed reliable
but not guaranteed.
________________________________________________________
Search for Layton 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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