West Haven,
Utah Condo Market
Semi-Annual Report: July 1, 2007 - June 30, 2008
| Median Condo Price
(Sold) |
$139,875 |
| Average Condo Price
(Sold) |
$147,375 |
| Low Condo Price
(Sold) |
$128,420 |
| High Condo Price
(Sold) |
$176,020 |
| Number of Condos Sold |
35 |
| Average Days on Market Until Sold |
64 |
| Dominate Price Range |
$100,000 - $199,999 |
| Dominate Price Range % of Total |
100% |
________________________________________________________
|
Demand
|
West Haven, Utah condo
demand is down by
34% the first
six months of 2008
compared with the
same period in 2007.
West Haven
condo marketing time to change
"for sale" status to
"sold" is
very long at
an average of 54 days.
It takes 6 days less
on average to sell
in West Haven than
the
Weber County average. There are
currently 4
condos with pending
sales transactions. |
|
Supply
|
West Haven has only
3 condos currently
listed on the market
for sale. This
figure constitutes a
very short 1 month
market supply.
Townhouses
constitute the
majority of current
condos listed. The
current listings
have been on the
market an
average of 83 days. |
|
Price
|
Residential prices are
rising in West Haven.
The average
residential price
increased by $24,892
the first half of
2008 compared with
the same period in
2007. That
represents a 14%
increase. The median
condo sold price is
$139,875. Current listings
prices range between
$122,900 and $175,000. |
|
Financing
|
The majority of
financing in
West Haven is by
conventional loans,
constituting 43.9%.
Cash purchases are
at 10.5% while FHA
loans are at 32.3% |
|
Conclusion
|
The West Haven, UT real
estate market is
currently a mixed
market. Demand for
homes is down.
However, the condo
market should fare
well with rising
prices, a small
amount of
competition and a
short selling
window. |
Source:
Wasatch Front Regional
Multiple Listing Service and
condosUtah.com.
Figures are deemed reliable
but not guaranteed.
________________________________________________________
Search for West Haven 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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