This is the 2008 snapshot of the real estate market for Roy, Utah, zip code 84067. 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.
- 557 Closed MLS Sales for Single Family Homes - there are currently 251 active listings today (5 1/2 months of inventory)
- Sales Price Range low $69,600 to high $461,284 - active listings range low $101,990 to high $579,000
- Median Sales Price for Single Family Homes $164,000 - current median list price $170,000
- Average List to Sales Price 99.3% - 67% 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 97.3%
Other Observations
- Although the number of new listings on the market are down 2.6%, the homes that are currently on the market are priced as much as 3.7% 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 6% of the active MLS listings in Roy are short sales driving down the value of non-distressed homes
- At least 9% of the MLS listings in Roy are vacant
- The most active price range in Roy is $160,000 to $180,000
What's Happening Right Now
- There are 49 homes under contract in the MLS
- The median list price of these homes is $152,450 ranging from a low of $55,000 to a high of $389,500
- 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
RE/MAX Masters ... Offices in Salt Lake City and Layton, Utah
Direct Phone: 801.726.1443
Direct Toll Free: 800.977.7835
Direct Fax: 866.541.2392
What's My Home Worth? www.utahhomevalues.net
Search for Homes www.utahhomelistings.net
... Educated & Experienced, Professional & Successful ...
Comments(0)