The sales stats for Herriman homes for sale for the 7 days ending 2/06/08, suggest that we are still experiencing a "buyers market" in that area. It doesn't look like help is on its way soon. At the current rate, the 365 Herriman homes and 19 condos listed on the Wasatch Front Multiple Listing Service (MLS) would sell out in about 10 months. Thats under normal circumstances. But times aren't normal, and some of the numbers weve analyzed make us think that there is tough sledding for sellers, GREAT OPPORTUNITIES for home buyers , and Real Estate Investors.
We hope the following statistics are helpful, and give you the information you need to make an informed Real Estate decision.
Of the 384 single family units available in Herriman, over 10% require third party approval before a sale can be made.
Over 10% of the new listings also fall into this category.
Nine contracts were written last week. Thirty % were "short sales" or Bank Owned.
The average price of the new homes brought to market, (38 new listings) was over $396,000, while the nine new contracts averaged less than $340,000.
Thirty six listings expired last week, or for some reason the home owner withdrew the house from the market.
I would be happy to discuss with you how these market facts might effect your Real Estate plans, please don't hesitate to call me @ 801-567-0946. To view all the homes listed go to SLC Home Listings
For more information about home/condo sales around the Salt Lake Valley, check out my website, Salt Lake Homes.
Thanks for being here, I'll talk to you next week with updated stats of homes for sale, Herriman Utah.
Filed under: Market Conditions, Herriman, Real Estate Information
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