Riverton Condominium Market
Semi-Annual Report: July 1, 2007 - June 30, 2008
| Median Condo Price
(Sold) |
$206,248 |
| Average Condo Price
(Sold) |
$214,089 |
| Low Condo Price
(Sold) |
$169,900 |
| High Condo Price
(Sold) |
$320,000 |
| Number of Condos Sold |
33 |
| Average Days on Market Until Sold |
51 |
| Dominate Price Range |
$200,000 - $299,999 |
| Dominate Price Range % of Total |
52% |
________________________________________________________
|
Demand
|
Riverton, UT sold 33
condos over the past
year. Condos in Riverton
average 51 days
listed on the market
until sold. Riverton
condos take longer
to sell--an average
of 6 days more than the
county average.
|
|
Supply
|
There
are currently 19 condos
on the market in
Riverton for a 6.9
month supply. Most
of the condos in
Riverton are the more
desirable townhouse
style. The average
number of days on
market for current
listings is 68 days.
Currently there are
two condo sales
pending. |
|
Price
|
Riverton
is an upscale condo
market with the
dominate price range
at $200,000 to
$299,000. Only three
cities in Salt Lake
County are in this
upper range. The
average residential
sold price
in Riverton has
decreased by $19,453 so far this
year compared with
the average price
sold for the
first half of
2007. The Riverton
median condo
sold price of $206,248
is one of the five
in the county with a
median price
above $200,000.
|
|
Financing
|
Conventional
loans account for
over 70.5% of home
financing in
Riverton.
Cash purchases
represent 2.9% of the
transactions. FHA
loans are a
whopping 17.2%.
|
|
Conclusion
|
The
Riverton condo
market is currently
struggling with
decreasing prices.
Residential prices are
significantly decreasing
and should thereby
increase demand. Current condo
listings range in
price from a low of $169,900
for a 1,334
square foot, 2
bedroom, 2 bath with
1 car garage in
Aspen Springs to $324,900
for a 2007 condos
with 3,237 square
foot, 4 bedroom, 3
bath, 2 car garage
in Rose Creek.
|
Source:
Wasatch Front Regional
Multiple Listing Service and
condosUtah.com.
Figures are deemed reliable
but not guaranteed.
________________________________________________________
Search for Riverton 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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