Real Estate Sandy Ut, Homes for Sale

The May 1st, Real Estate Report for Sandy Ut, Homes for Sale is out and real interesting, Particularly if you are a buyer.

Real Estate in Sandy City is as varied as there are homebuyers needs. The homes for sale in Sandy, more than any other Utah city offer something for everyone. Whether you are a first time home buyer, looking to move up, a senior looking to downsize or improve security, A Real Estate Investor, flipping or rehabing houses, or a family transferring, needing to re- locate,  there is an area of Sandy City that will be suited to your new lifestyle.

This report (5/01/08) and its companion reports of the individual towns that make up the Salt Lake Valley, will cover current available homes for sale, houses/condominiums sold in the last 30 days, and contracts written on homes last month as well as homes and condominiums that were for sale but for whatever reason have been taken off the market in the last 30 days. We will also offer comment on some of these stats if we feel it will ad to the value of the information. All of the statistics are supplied by the Wasatch Front MLS, Any commentary belongs to Group 1 or its Realtors.

We will pay particular attention to the recent phenomenon characterised as distressed properties, and listed as  Foreclosures, Bank Owned (REO), HUD Homes, or Short Sales.

New homes (new construction) or homes for sale by owner (FSBOs) probably wont show up in this report, as few of these houses are listed across the MLS.

Sandy City Homes For Sale:
     There are 798 single family homes for sale on the Salt Lake MLS. One hundred twelve, about 14% are condominiums. In the last thirty days 236 houses / condos were added to this inventory.

Bank Foreclosures/Short Sales:
     A small percentage of homes for sale (6%) are HUD homes, bank owned, short sales, or houses that require third party approval before a sale can be made. Of the 48 distressed houses, the majority are located in the more expensive infill areas, are under 6 years old, and are expected to sell for less than is currently owed on them.

Homes Sold Last 30 Days:
     In the last 30 days 78 homes or condos were sold in Sandy. Only 4 of these were bank owned or short sales.

Under Contract Last 30 Days:
     During April 91single family homes/condos were put under contract. Assuming that 90% of these houses close, there will be  82 less homes for sale in Sandy. There were only 5 contracts written  for bank owned or short sales.

 Average Days On Market:
     I am reporting these numbers without conviction as most of you know how I feel about the way the days on market stats were gathered. The MLS has made changes and from now on I expect this part of our report to be meaningful. In the meantime it is reported that Homes in Sandy City have been on the market an average of 53 days before they are sold. Over the last 30 days,  Realtors and home owners removed 105 homes listed . The reasons were varied but  included not being sold after more than 120 days.
     
Conclusions:
     Overall, the resale home Real Estate market in Sandy is in pretty good shape. The degree to which you think this is true depends on whether you are buying a home or needing to sell. Home buyers, if they show patience, have decent credit and a modest down payment can find tremendous home buys. Sellers however need to price their home realistically and not try to be a better marketer than the next door neighbor was, (18 months ago). If money was borrowed using the house as collateral, maybe the profit has already been spent, and selling for whats owed is a good deal.  Outstanding investment opportunities can be had, but more of a long term nature than for short term flippers.
Each area is different and I would invite you to visit our blog over the next few days to see whats happening in Riverton, Herriman, South Jordan, or West Jordan. See what they have to offer.

To see the over 7000 homes for for sale listed across the Salt Lake Valley, (this includes condos and P.U.Ds.) check out our website at Salt Lake Homes. You'll get pictures of houses for sale, the location of all of the homes, and the price of homes for sale in your area of interest.

To talk to someone about your Real Estate needs, or ask a Real Estate related question call 801-567-0946.

Our website, Salt Lake Real Estate is a wonderful source of information and provides tips on buying and selling a house, relocating to Sandy City or investing in Real Estate. Check in, check it out, enjoy.

Remember to check the Sandy Ut, Real Estate and homes for sale report every month.