Any one wondering about Salt Lake Homes for Sale In Sandy Utah?
I was, and if your a Real Estate investor or your looking to buy a new home, you should be as well.
So Sunday I took a look at the MLS statistics related to the area with the greatest number of homes for sale in the Salt Lake Valley. (710). SANDY, UTAH.
Yes thats 710 single family residents (either houses or condominiums) listed for sale in an area that has seen little new construction in the last few years.
Speaking of Condominiums, we were surprised to find that over 100 of these listings (14%) were Condos. Mostly Town-Homes. That makes Sandy UT the home of the 3rd highest concentration of condos in the SL Valley.
It was surprising that the numbers we thought significant, IE: Sales last 30 days, contracts signed, New homes listed, and number of distressed properties mirrored our report on homes for sales activity in West Jordan on the same day.
Here's some of the stuff we found.
Homes Sold In Sandy Last 30 Days:
Forty four units closed during the last 30 days. At that rate, there is about a 14 month inventory of homes for sale in Sandy, if you assume new listings will be offset by homes being withdrawn from the market for various reasons. Great opportunity for Home Buyers.
Contracts Written on Homes For Sale Last 30 Days:
During the last 30 days, 40 contracts were written for homes for sale in Sandy Utah.
New Homes Listed Last 30 Days:
New listings in Sandy during this 30 day time period was almost 3 times the number of contracts written in the same period. This trend unless reversed soon, can significantly change the Real Estate climate in Sandy, so that homes will not only sit an unusually long time on the market, but begin to take its toll on equities and home values.. Again a buyers market that could get even better.
Sandy Foreclosures and Short Sales:
One hundred six Sandy Homes are characterised on the MLS as "distressed Homes". That is, the house or condo is listed as Bank Owned, REO, Home-steps, HUD Home, Short Sale, Foreclosures, or needs approval from a third party to transfer title. This is a surprising number as in most of the other areas, the distressed homes were generally less than 5 years old. As has been mentioned, Sandy is a mature community with little new construction. We will be looking into this at length over the next week or two.
To find your own information about the Salt Lake Housing Market stop by our website @ SLC Homes and get photos, prices, maps, and much of the same material Realtors use to search for homes. It's FREE and we update daily.
To talk to a real person, call 801-567-0946. We love to talk Utah Real Estate, and particularly about Salt Lake Homes for Sale in Sandy UT.
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