This is the 2008 snapshot of the real estate market for Clinton and Clearfield, Utah, zip code 84015. If you are interested in how this overview applies to you as a buyer, or to your home if you're a seller, please contact me for a personalized and detailed market valuation.
- 828 Closed MLS Sales for Single Family Homes - there are currently 388 active listings today (5 1/2 months of inventory)
- Sales Price Range low $72,000 to high $578,860 - active listings range low $89,900 to high $650,000
- Median Sales Price for Single Family Homes $176,000 - current median list price $189,900
- Average List to Sales Price 98.8% - 61% of the sales were VA or FHA financed, most likely involving a seller contribution of 3% toward the buyer's closing costs, effectively reducing the "net" list to sales price to approximately 97%
Other Observations
- Although the number of new listings on the market are down 17%, the homes that are currently on the market are priced as much as 8% higher than that of those that have sold
- The price range low and high have both increased without a corresponding growth in wages or in-migration bringing home equity from out of state
- At least 10% of the active MLS listings in Clinton and Clearfield are short sales driving down the value of non-distressed homes
- At least 14% of the MLS listings in Clinton and Clearfield are vacant
- The most active price range in Clinton and Clearfield is $200,000 to $250,000
What's Happening Right Now
- There are 77 homes under contract in the MLS
- The median list price of these homes is $173,825 ranging from a low of $95,000 to a high of $389,900
- The homes currently under contract have been on the market an average of 77 days
The Good News
- Mortgage interest rates have been holding at 5% for FHA and VA financing and slightly lower for conventional loans
- Utah Housing, the 100% FHA First Time Homebuyer program, finally dropped from 6.25% to 5.88%
- First time homebuyers are increasing their purchasing power by utilizing the $7,500 Federal Housing Tax Credit
- Clearfield City offers a 3:1 matching down payment assistance program for first time homebuyers up to a maximum grant of $5,000
RE/MAX Masters ... Offices in Salt Lake City and Layton, Utah
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