Midvale Condominium Market
Semi-Annual Report: July 1, 2007 - June 30, 2008
| Median Condo Price
(Sold) |
$160,000 |
| Average Condo Price
(Sold) |
$176,046 |
| Low Condo Price
(Sold) |
$102,000 |
| High Condo Price
(Sold) |
$333,000 |
| Number of Condos Sold |
125 |
| Average Days on Market Until Sold |
42 |
| Dominate Price Range |
$100,000 - $199,999 |
| Dominate Price Range % of Total |
71% |
________________________________________________________
|
Demand
|
Midvale
condo demand is
good.
The
average number of
marketing days
for Midvale condos is 42
days until sold.
That is 15 days less
than the state
average. During the past 12
months, Midvale
sold 125 condos.
|
|
Supply
|
Supply in Midvale is
low. There are
currently 49 condos
listed on the
market of which 98%
are townhouses. The
current condo
listings have an
average of 72 days
on the market.
There are 13 condos
listed below
$130,000.
Almost all of the
current condos
listed are
townhouses. |
|
Price
|
Midvale
residential prices
are increasing
slightly. There is a
$131 average increase
in residential
prices between the
first half of 2007
and the first half
of 2008.
The median price is
$160,000 and the
average price is
$176,046.
Current listing
prices range from
$84,900 to
$329,000. |
|
Financing
|
Conventional
loans in
Midvale account for
66.5% of homes
purchased. FHA
loans are
currently at 19.7%. Cash
purchases are at 8.2%. |
|
Conclusion
|
The
Midvale condo market
favors sellers.
Current inventories
are low (less than
six months supply)
so there are fewer
condos on the market
to compete with. |
Source:
Wasatch Front Regional
Multiple Listing Service and
condosUtah.com.
Figures are deemed reliable
but not guaranteed.
________________________________________________________
Search for Midvale 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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