This is the Sept, 08, SLC Real Estate - Riverton UT Homes For Sale Report, prepared for our clients and those looking for a partner that knows Utah Real Estate along the Wasatch Front.
Our goal @ Group1 Real Estate is to provide the most timely & important Real Estate Information possible. Our hope is that if you are searching for Condominiums/ Homes to buy in Riverton, listing a home in Riverton or looking for investment property,you will consider the professionals at Group1 to be your trusted partners. We also hope you'll consider our web site @ Salt Lake Real Estate to be a valuable resource for all your buying, selling, and investment needs.
Over the next few days, we will post individual reports for various towns and neighborhoods that make up the Salt Lake Market. Watch for reports on West Jordan, Draper, Taylorsville, Murray, Draper,and South Jordan
Yesterday we featured stats and analysis on homes for sale in Sandy UT. As with all of our offerings those numbers are provided by the Wasatch Front Regional Multiple Listing Service, (MLS).
Real Estate Report-Riverton UT, Homes For Sale:
There are 328 homes for sale in Riverton UT,on 9/04/08.
16 of these Riverton Homes are condominiums. (4.8%)
49 of these homes listed are currently under contract.
Prices range from a low of $ 159,900 to a high of $2,999,999.
Median price of Riverton UT, homes for sale is $336,950
Median price of Riverton homes under contract is $295,000.
Average price of homes listed in Riverton is $372,459.
Average price of homes under contract is $330,526.
63% of the Riverton homes for sale are priced between $250,000 and $500,000 dollars.
59% of the homes under contract are under $350,000.
Median days on the market for homes listed is 63.
Median days on market for homes under contract is 100.
There are 70 homes listed for sale in excess of $450,00 in Riverton, UT.
Only 6 homes priced over $450,000 are under contract.
Less than 10% of the homes for sale in Riverton are distressed property.
There are 32 properties listed as HUD Homes, REOs, Short Sales, pre-forclosures or Bank Owned Homes.
Riverton UT: Homes For Sale Observations:
Riverton Utah, like its neighbors, although to a lesser extent,Herriman and So. Jordan has experienced rapid growth and tremendous expansion over the last few years. By continuing to only allow development of larger lots, thus retaining the image of a farming or ranching community and maintained a niche market thatwas less impacted by the mortgage hassles that have nailed other Utah communities.
You wont find many Town homes or condominiums in this rural community but if your interest is in Horse Property, Ranchettes or small acreage, Riverton is your kind of place. . Less than 10% of the standing inventory in Riverton is "distressed property" and a high percentage of those foreclosures and REOs is New Construction. Our observation is that this trend could continue for as long as 12 months, and longer if interest rates on home mortgages should increase significantly during that time.
Note that from the report we see, that the median listed sales price which indicates as many homes for sale above a price as there are below it, is $336,950 while the average price is over $372,459 dollars.
The price difference between homes (average) that are listed (what sellers are asking) and houses/condominiums under contract (what buyers are paying) is over $50,000 dollars.This would indicate among other things that there is the possibility of further erosion of house values. Distressed homes IE: Short Sales, Bank Owned, (REOs), foreclosures and HUD Homes are only 9.6% of the Riverton's houses listed for sale on the MLS.
Opportunities still exist for Investors and move up families that want to take advantage of a strong buyers market. New home construction is still a play as many builders have overbuilt in sub-divisions like Heritage, Mountain View, Riverton Meadows, Thaxton Acres, and Riverton Gardens.
To search all of the 328 homes for sale in Riverton, UT, as well as over 8000 houses listed in the Salt Lake Valley, stop by our website at Salt Lake Homes and see photos, map, prices, directions and basically the same information your Realtor uses to provide you house/condo searches.
I hope you have found this information helpful and you'll give us a call if you have any questions about SLC Real Estate or the Riverton UT, Homes For Sale Report..
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