Murray Condominium Market
Semi-Annual Report: July 1, 2007 - June 30, 2008
| Median Condo Price
(Sold) |
$143,500 |
| Average Condo Price
(Sold) |
$152,752 |
| Low Condo Price
(Sold) |
$90,500 |
| High Condo Price
(Sold) |
$368,500 |
| Number of Condos Sold |
84 |
| Average Days on Market Until Sold |
49 |
| Dominate Price Range |
$100,000 - $199,999 |
| Dominate Price Range % of Total |
84% |
________________________________________________________
|
Demand
|
Murray
condo demand is
low.
The
average number of
days a condo stays
on the market in
Murray until
sold is 49
days.
During the past 12
months, Murray
sold 84 condos.
|
|
Supply
|
Supply in Murray is very high. There are
currently 105 condos
listed on the
market which should
take at least 15
months to sell. The
current condo
listings have an
average of 71 days
on the market.
Townhouses
constitute 52% of
the current
listings.
|
|
Price
|
Murray
residential prices
are increasing. There is a
$11,747 average
increase
in residential
prices between the
first half of 2007
and the first half
of 2008.
The median price is
$143,500 and the
average price is
$152,752.
Current listing
prices range from
$94,000 to
$459,900. |
|
Financing
|
Conventional
loans in
Murray account for
64.6% of homes
purchased. FHA
loans are
currently at 18.8%. Cash
purchases are at 6.7%. |
|
Conclusion
|
The
Murray condo market
favors buyers.
Current inventories
will take more than
a year to sell off. |
Source:
Wasatch Front Regional
Multiple Listing Service and
condosUtah.com.
Figures are deemed reliable
but not guaranteed.
________________________________________________________
Search for Murray 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
|
