Utah County Association of REALTORS®
Monthly Statistics
To: Brokers and Agents
From: Taylor Oldroyd, CEO Utah County Association of
Realtors®
Subject: Monthly Statistics--March 2008
1 The number of
units sold continued to slip in March compared to March
of 2007; 327 units sold is a 43.4% change
from the 578 units sold last March. Surprisingly, the number
of condos sold slipped even more from 124 in March
2007 to only 61 in March this year…a 50.8% reduction. Sale
of single-family homes in March was down 41%
with homes priced more than $500,000 down 46.1%.
2 When comparing the first three months of 2008 with last
year we see a slightly better result of 38.7% reduction in
units sold. Looking at
condos
sales in the first three months, the reduction is 35%
down from 287 in 2007 to 186 in 2008.
3
Median list price is down 12.65% to $289,900 from
$331,913 in 2007.
4 Days on Market for all residential types sold increased
53% to 78 this March compared to 51 in March 2007.
5 The number of
active listings is up 21.3% to 4764 from March of last
year.
Summary: I think that is enough bad news for one month. If I
can find a silver lining in all of this, it is that with the
number of listings up it means many of you are busier…I hope
all your hard work will generate into sales. Hang in there.
Comments by Paul Teasdale: The current saturation rate
in Utah County is 16.5 months.