Market Statitistics Salt Lake

Here they are, Market Stats, what is going on and my own personal feeling of the market right now.

Salt Lake County: 5/14/09
7725 homes/condos for sale right now 5/14/09

1313 homes/condos for sale that are Short Sales
About 17% of homes/condos for sale are Short Sales

852 homes/condos sold in the last 30 days
of those 852 homes sold, 100 of them were Short Sales
You have about a 7.6% chance of closing a Short Sale (have fun:)) or 7.6% of short sales have closed in the last 30 days.

Absorbtion rate: 11, this means that with the current number of sales to the homes available it will take 11 months to clear the inventory.

1875 homes under contract to closes- WOW- this is great, people are getting the picture! More than double the home sales in the last 30 days. Keep in mind some of these fall through.

We are seeing the well priced and great conditioned properties move, even seeing multiple offers. Now is NOT the time to sit on the fence, even to sale.

Utah County, I will post tomorrow.

Thanks for reading, please contact me for any of your Real Estate needs as well as anyone you hear may need a true professional on their side.

Bryan Colemere
Colemere Realty
801-699-4266
bryan@colemererealty.com
bryancolemere.blogspot.com