Unofficial April Home Sales numbers for Utah County are in, and the declining trend isn’t changing in Utah County, Utah.
The number of homes sold in April in 2008, compared to a Utah County home sold in 2007, is down 35%, and the average price of homes sold in 2008 is down more than 9%.
Unofficially, 300 single family homes listed on the MLS were sold in Utah County this year and their average sold price was $253,553.
Currently there are 4,350 homes listed on the MLS in Utah County. The average price of these listings is over $400,000.
The good news is that there were more homes sold in April, than the average 1st quarter monthly totals. There is still too much inventory on the market and it is clearly a buyers market in Utah County, Utah Including: American Fork, Lehi, Orem, Provo, Payson, and Spanish Fork.
May 6, 2008 at 8:23 am
Two years ago they said this would never happen in Utah. “Utah is different” was a comment I heard a lot when the national housing bubble was beginning to pop. So we are different?? different just like everybody else.
Prices are going to have to come down a lot more before it becomes a “Buyers Market”
May 9, 2008 at 7:24 am
Completely agree… prices need to come down another 15-20%