July 07' - July 08' Inventory Levels
Home inventory levels
are figured out by taking the number of homes on the market in a given zip code
and dividing it by the number of homes sold in that zip code for the last 30
days. The answer will give you the
absorption rate. Or the number of months
it would take to sell the existing inventory at the current rate if no other
homes came on the market.
Note: I do not include properties under contract in the
calculation. And I round up for .5 and
above.
Sellers Market 1-6 Months
Normal
Market 6-8 Months
Buyer’s Market 8+ Months
|
City
|
Zip
|
July,
2007
|
July, 2008
|
|
Draper
|
84020
|
10
|
14
|
|
Midvale
|
84047
|
3
|
8
|
|
Riverton
|
84065
|
8
|
12
|
|
Sandy
|
84070
|
4
|
9
|
|
West Jordan
|
84088
|
8
|
9
|
|
Sandy
|
84092
|
7
|
13
|
|
Sandy
|
84093
|
15
|
18
|
|
Sandy
|
84094
|
3
|
7
|
|
South Jordan
|
84095
|
9
|
16
|
|
Salt Lake City
|
84101
|
11
|
36
|
|
Salt Lake City
|
84102
|
4
|
10
|
|
Salt
Lake City/Aves
|
84103
|
7
|
16
|
|
Salt Lake City
|
84104
|
3
|
8
|
|
Salt Lake City
|
84105
|
6
|
8
|
|
Salt Lake City
|
84106
|
8
|
9
|
|
Murray
|
84107
|
4
|
9
|
|
Salt Lake City
|
84108
|
6
|
9
|
|
Salt Lake City
|
84109
|
6
|
19
|
|
Salt Lake City
|
84111
|
7
|
9
|
|
South Salt Lake
|
84115
|
4
|
12
|
|
Salt Lake City
|
84116
|
2
|
8
|
|
Holladay
|
84117
|
5
|
23
|
|
Taylorsville/Kearns
|
84118
|
3
|
8
|
|
West Valley
City
|
84120
|
3
|
10
|
|
Cottonwood
|
84121
|
13
|
10
|
|
Taylorsville/Murray
|
84123
|
3
|
6
|
|
Holladay
|
84124
|
6
|
9
|
Because of the way the numbers above are calculated, it is a
great indicator of what the market has been like in the last 30 days as well as
how many homes are on the market.
After one year of
tracking these numbers, we finally have a year over year comparison. It looks like inventory levels are up in
every zip compared to one year ago.
Although the numbers are not very encouraging, it could be much
worse. Except for a few zip codes, most
of the inventory levels are at manageable levels.
All data taken from the WFRMLS. Information not guaranteed. All
rights reserved Mark Alder ©, a Salt Lake City Real Estate Agent cell
(801) 979 6275
;)
;)
