Click For Your FREE
Home Value

Left Brain
Like What You're Reading? Submit your email to be notified of new articles! Really Simple Syndication

Categories

Archives


Shhh Don’t tell Anyone

April 13th, 2008 Categories: Real Estate News

If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!

 

Salt Lake Real Estate Market

Showing Signs of Improvement 

Shhh Don’t tell anyone but the Salt Lake Real Estate Market inched forward. Could be seasonal, could be amazing interest rates, could be buyers are not listening to media, it could be a lot of things or a combination of all of the above.

Number of residential units sold in Salt Lake County for the month of March is up a little over 17% from February and up 30% from January.  Average sold price up a hair nothing special. List to sale ratio went from 97% to 98%.  

One of the things not reflected in the price is seller concessions to the buyer.  For example if a property is listed for $280,000 and the buyer and seller agree to the list price BUT the seller agrees to pay $7,000 in closing cost concessions to the buyer. The price was $280,000 as reported but the affective price to the seller was $273,000.

Although appraisers will not count the concession when appraising, it still shows up in averages.

This entry was posted on Sunday, April 13th, 2008 at 5:46 am and is filed under Real Estate News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

  1. Keahi Pelayo said at May 9th, 2008 at 1:00 pm

    Thanks for the insight. It is nice to hear good news from the mainland. The Honolulu market is strong.
    Aloha,
    Keahi
    RE/MAX 808 Realty

Leave a Reply

Copyright © 2007 Salt Lake Real Estate Blog     Agent Login     Design by Real Estate Tomato     Powered by Tomato Blogs