South Jordan Condominium Market
Semi-Annual Report: July 1, 2007 - June 30, 2008
| Median Condo Price
(Sold) |
$220,225 |
| Average Condo Price
(Sold) |
$227,853 |
| Low Condo Price
(Sold) |
$169,935 |
| High Condo Price
(Sold) |
$324,372 |
| Number of Condos Sold |
49 |
| Average Days on Market Until Sold |
55 |
| Dominate Price Range |
$200,000 - $299,999 |
| Dominate Price Range % of Total |
88% |
________________________________________________________
|
Demand
|
South Jordan, UT sold
49
condos over the past
year. South Jordan
has one of the
fastest growing
housing markets in
the state. The new
Daybreak Community
has a great
selection of modern
style condos
including
townhouses. Condos in South Jordan
average 55 days
listed on the market
until sold. It takes
an average of 2
additional days on
the market for
condos to sell in South Jordan
than for Salt Lake
County. Condo sales
in South Jordan
represent 2% of the total
condo sales for
Salt Lake County.
|
|
Supply
|
There
are currently 28 condos
on the market in
South Jordan for a
6.9
month supply. Most
of the condos in
South Jordan are the more
desirable townhouse
style. The average
number of days on
market for current
listings is 108 days.
The current low
listing price is at
$175,900 while the
highest listing
price is at
$379,900. |
|
Price
|
The dominate price
range for South Jordan
condos is in the
range of $200,000 to
299,999. Only three
cities in Salt Lake
County are in this
upper range. The
average residential
sold price
in South Jordan has
increased by $7,034 so far this
year compared with
the average price
sold for the
first half of
2007. South
Jordan has the
second highest
average price
increase in the
county. The South Jordan
median condo
sold price of $220,225
is the second highest median price
in the county.
|
|
Financing
|
Conventional
loans account for
over 68.6% of home
financing in
South Jordan.
Cash purchases
represent 4.4% of the
transactions. FHA
loans are a
whopping 18.3%.
|
|
Conclusion
|
The
South Jordan condo
market is somewhat
strong. Home prices
continue to rise and
days on market until
sold is near the
state average. An
excellent selection
of townhouses--the
most desirable style
of condos--is
available.
|
Source:
Wasatch Front Regional
Multiple Listing Service and
condosUtah.com.
Figures are deemed reliable
but not guaranteed.
________________________________________________________
Search for South Jordan 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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