The first quarter home sales report for Tooele County is finally out, and it is just about what we would expect.

 Each quarter the Salt Lake MLS publishes a report on how home/condominium sales compare to the same time frame in previous years. Since the buying and selling of Real Estate is somewhat seasonal I guess it is a way to compare apples to apples.

 All of the numbers are from the Wasatch Front MLS, any commentary is from Group1 or it's Real Estate Agents.

As is true with most of the reports we pass on to you from the MLS, This report does not include any homes for sale by owner (FSBOs) or many of the New Constructon Homes, as builders like their own sales people to represent them. We find this changing somewhat, as many banks are requiring builders list with Realtors before agreeing to any short sale arrangement. (perhaps a clue to FSBOs?)

This report is a composite of all the areas in Tooele County and ranges from Wendover all the way down to the south end of the Tooele Valley to include Tooele City, Stansbury Park, Erda and Grantsville Ut. We plan to break these out further in other posts so that you can get a real home sales comparison for your individual area of interest.

Tooele First Quarter Home Sales Report 2008:

Number of single family homes sold                                     138      
     This represents a decrease in number of home sales of 115 almost 46% .

Tooele Ave. home sale price                                          $195,001
      In spite of what has been seen as a down Real Estate market prices in Tooele for single family homes, house prices decreased only about 4.5% per cent.

Number of condos sold                                                  8
      This is exactly half of  number of Condominiums sold in 2007 in the same quarter.  

Tooele average condominium price                                $131,405 
     Condo prices declined 5.79% from last year.

New Listings, (homes/condominiums)                                    529                                 
     Listings over the quarter are up about 13.28% over last year at this time. ( 62 houses).

Per centage New Listings Sold (homes/ condominiums)    28%
     This change in the market is where the real heartburn is. Thats only 52.09% of what was being sold last year during the first quarter and will soon begin to drive home prices down further if it doesnt improve.

S.L. average new listing asking price                              $235,338
     Home sellers, and builders are being stubborn. This 5% increase is not much. It 's not real either, and home sellers need to get real, reduce the asking price on new listings and increase the percentage of  new home listings that sell.

Days on Market                                                                                 72
     Most of you know how I feel about the way days on the market is reported. I haven't liked it. The MLS has changed that and in the future I think it will reflect a real number to look at. Until then this number, nearly 2 months, is an increase of almost 45%.

You can see all of the 529 homes for sale by clicking on Tooele Homes No registration is required, and just like local Realtors you'll see pictures of the homes, prices of homes, and where the house is located. We update daily, so you'll want to come back often.

For other Real Estate Information please go to my web site, Tooele Real Estate and take advantage of the many resources available.

Finally, keep coming back to my blog, there is more here than the Tooele Real Estate first quarter home sales report.