Magna Condominium Market
Annual Report: 2009
| Median Condo Price
(Sold) |
$114,000 |
| Average Condo Price
(Sold) |
$113,772 |
| Low Condo Price
(Sold) |
$90,000 |
| High Condo Price
(Sold) |
$148,789 |
| Number of Condos Sold |
28 |
| Average Days on Market Until Sold |
35 |
________________________________________________________
|
Demand
|
Magna
condo demand has
fallen in 2009.
It is now taking
more than an extra
100 days to sell a
condo in Magna with
the average number
of marketing day
until sold at 140.
That is 50 days more
than the state
average. During the past 12
months, Magna
sold 21 condos.
|
|
Supply
|
Condo supply is low
in Magna with
only 6 current listings
on the
market, representing
a 3 month supply.
|
|
Price
|
Magna
condos prices
have risen slightly
in spite of the
lower demand. The
average condo sold
price in 2009 was
$118,643. The
average sold price
is nearly $65,000
less than the state
average. |
|
Conclusion
|
The
Magna condo market
currently favors
buyers, although
the short supply
favors sellers.
Condo prices are low
and demand is low. |
Source:
Wasatch Front Regional
Multiple Listing Service and
condosUtah.com.
Figures are deemed reliable
but not guaranteed.
2007-2008 Magna Condo Trends
________________________________________________________
Search for Magna Condos
Barry J. Preusz,
REALTOR®, Downtown Salt Lake City Condo Specialist,
Equity Real Estate,
7090 Union Park Center, Midvale Utah, 84047
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.com
All Rights Reserved
|
