Weber County Home Sales Up 30%

November was also a good month for home sales in Weber County Utah. Compared with November of last year, the 269 Weber County Homes sold represents nearly a 30% increase.

Monthly Home Sales Weber County Utah

While year over year home sales were up, prices were down. The average Weber County sold price of $166,999 was down almost 6% compared with the average sold price of November of last year.

Right now there are 2,099 homes for sale in Weber County Utah. This is the lowest level of active inventory in two years. At November’s home sales pace, it represents 7.8 months of active inventory.

Why You Should Buy Utah Real Estate this Winter

Fannie Mae is predicting that the national housing recession has ended. In the US as a whole, home sales are expected to rise next year by double digits, and home prices are expected to stabilize next year. That is, not drop in value for the first time in a few years. In Utah, especially in the Salt Lake and Davis County areas, we are already seeing signs that these real estate markets have bottomed out.

If you are thinking of buying Utah Real Estate sometime in the next couple years, from a financial standpoint, this winter just might be the BEST time to buy. Here are some reasons why:

Government Tax Credits

If you haven’t heard, the $8,000 tax credit for first time buyers has been extended through April. In addition, it has been expanded, and open to current homeowners. This Tax Credit  of $6,500 is available for buyers making less than $220,000 per year, who have lived in their current home for five out of the last eight years.

With this new tax credit, you actually have until June to buy, you just need to get the property you are purchasing under contract by the end of April.

Plenty of Selection for Large Utah Homes
There is an oversupply of large homes in Northern Utah. Here are the numbers of homes for sale, and the amount of inventory based on the last six months of home sales for homes larger than $3,000 square feet:

• Cache County Real Estate:  220 properties for sale, 11.58 months of inventory.
• Box Elder County Real Estate: 93 homes for sale bigger than 3,000 square feet, or 18.6 months of active inventory!
• Weber County Real Estate: 511 properties for sale, 11.93 months of inventory,
• Davis County Utah Real Estate:  700 homes larger than 3,000 square feet for sale, 8.52 months of inventory.
• Salt Lake Real Estate: 2094 active listings, 8.36 months of inventory.
• Tooele Utah Real Estate: 170 properties for sale, 12.14 months of inventory.
• Utah County Real Estate: 1,516 homes for sale, 8.8 months of inventory.

Mortgage Interest rates are Incredible
Mortgage Rates for conventional mortgages with 80% LTV are currently less than 5%, for 30 year fixed mortgages right now. 15 year fixed, and 5-year ARM’s are even less expensive.

A$250,000 home loan at 5% interest has approximatelly the same monthly payment as a $200,000 mortgage loan at a 7%.

The current interest rates are worth tens of thousands in terms of affordability.

Moderate Homes are Selling
One fear many current home owners have is being able to sell before they can buy. The good news is that starter and more moderate homes in Northern Utah are actually selling. Prices of these homes aren’t as high as they were a a few years ago, but sellers of these these types of homes, who price their home right, are usually getting near asking price.

Here is the break down in the amount of inventory for sale for homes with less than 2,000 square feet:

• Davis County has just 4.86 months of inventory.
• Weber County 7.0 months of inventory.
• Box Elder County 7.18 months of inventory.
• Cache County: just 6.15 months of real estate inventory.
• Salt Lake County: 3,066 homes for sale, 6.53 months of inventory.
• Tooele County:  191 homes for sale, 8.19 months of inventory.
• Utah County: 1155 Homes for Sale, 7.15 months of inventory.

If you are thinking about buying a new home in Utah, this winter really might be the best time to do it. To view all the currently listed Utah Homes for sale visit: NorthernUtahHomeSearch.com

October was BEST Month of 2009 for Weber County Home Sales

It looks like October was the best month of the year for the number of homes sold in Weber County Utah. Thus far, there have been 290 residential homes reported sold on the MLS. October home sales were up nearly 19% f from October of last year, and up 20% from Septembers Home Sales Numbers.

While home sales are up, prices clearly appear to be stabilizing for Weber County Homes. For the fourth straight month, the median list price of Weber County homes has been exactly $179,900. The average list price has also been pretty stable.  During May, the median sold price of Weber County Real Estate was $155,000, 14% less than the median list price.

Even though home sales were up, the amount of Inventory for Sale in Weber County happened to rise as well. During September, there were 2122 residential listings for sale in Weber County. Now there are 2135 listings. At Octobers sales price, Weber County has 7.36 months of active inventory.

It’s still a great time to buy real estate in Weber County. With the first time buyer tax credit extended, and opened up for existing home owners, home sales should be better than last year throughout the winter.

Click here to  view all active Weber County Home Listings

 

12% of Weber County Homes Listed are Short Sales

Nearly 12% of the homes currently for sale in Weber County require short sales. This is less than other parts of Utah, but it is still a high percentage of underwater Utah homes for sale.

Weber County Short Sales

South Ogden had the lowest rate of short sales with only 5.26%, while more than 16% of the homes for sale in Roy require bank approval.

Here is the break down of Short Sales by the larger cities in Weber County:

Eden Utah Short Sales: Eden has 18 short sale listings and a total of 133 MLS listings, 13.53% are short sales, which is actually a lower percentage than I suspected.

North Ogden Short Sales: Exactly 10%, 18 of 180 listed homes in North Ogden are in need of Short Sales.

Ogden Utah Short Sales: Ogden city itself has a slightly lower average rate of short sale than Weber County as a whole. Just under 11% of Ogden Homes are short sales.

Pleasant View Short Sales: Pleasant View has a high percentage of short sale listings 15.12%.

Riverdale Utah Short Sales: Short Sales in Riverdale were less than the Weber County Average at 10.67%.

Roy Utah Short Sales: Roy has the highest rate of short sales iin Weber County with 16.13% of listed homes under this status.

South Ogden Short Sales: South Ogden has just 5.26% of its listed homes as Short Sales. There are currently only 8 short sales in all of Weber County.

West Haven Short Sales: The rate of short sales in West Haven was just over the average for Weber County at 13.04%.

Other Weber County Cities: The smaller communities of Weber County have a higher rate of short sales. There are currently 394 listed homes in these cities of which 54 are short sales, for a total of 13.71%

Weber County 3rd Qtr 08-09

Ogden Valley sold ten percent fewer homes when comparing to the third quarter of 2008.  Both median and average sold price slipped around 5% to the mid to upper 100s.  Current median prices are in the upper 100s and average prices are in the mid 200s.

Weber condos sold were almost cut in half, dropping 45% and selling 48 fewer condos. Prices also dropped about $10,000.  For more information about major cities in Weber, continue reading.

Ogden Homes: Ogden experienced the largest decrease by selling fifty fewer homes.  Some of the other cities didn’t even sell fifty total.  Median sold price dropped 8% and average sold price decreased 6%.

North Ogden Homes: 13% fewer homes were sold this quarter.  Median and average sold price also dropped slightly to approximately $215,000.

Roy Homes: Roy sold 10 fewer homes, down 7%.  Median sold price declined $12,000, and average sold price fell $10,000.

Upper Ogden Valley Homes: Eden, Huntsville, and Liberty saw an increase in the number of homes sold.  That being said, these towns experienced the largest decrease in sold price as average price fell almost $100,000.  Even so, homes in the upper Ogden Valley are the most expensive in the area.

Weber County Home Prices Leveling, Home Sales Up

The median list price for homes for sale in Weber County Utah was at exactly $179,900 for the third straight month.

List Price of Homes in Weber County UT

During September, home sales were actually up in Weber County compared with August. Compared with September of last year they were down about 13%.

Inventory of Weber County Real Estate also declined during the last month. There are currently 2122 residential homes on the market, giving Weber County just over nine months of active inventory at Septembers Home Sales Pace.

To view current homes for sale in Ogden and Weber County, visit NorthernUtahHomeSearch.com

Utah Ranks 32nd Nationally for Property Taxes

Utah property tax averages and rate for Salt Lake, Weber and Utah County Utah.

In a recent article in the Deseret News, Utah Ranked 32nd nationally for property taxes.

Weber County actually had the highest rate for property taxes, but being that Weber County homes have an lower average value, the actual tax was less. Salt Lake County has the highest average property taxes in Utah.

When buying a house, property taxes is another aspect to consider. The cost of property taxes will effect affordability. Property taxes vary by city. To search Utah Homes for Sale with the ability to view the property taxes of each house for sale visit: NorthernUtahHomeSearch.com

Ogden Real Estate Sales Still Struggling

Real Estate in Ogden Utah hasn’t seen improvements like the rest of the state. Home prices and sales are dropping, but so are the number of Ogden Utah homes for Sale.

During August, Weber County Home Sales dropped by nearly 16% compared with August of last year. August home sales were even down 18.5% compared with last month.

Prices of Homes in Weber County also saw their lowest single month average sold value since February of 2007. The average price of the 224 MLS listings sold in Weber County during August was $169,020. The median sold price was just $146,000.

The number of Weber County Home listings dropped slightly, and is now down to 2229 residential homes for sale. However, with the larger drop in home sales, the months of inventory at August’s sales rate rose to almost 10 months.

July Weber County Home Sales Down

For whatever reason Weber County Real Estate sales were down by more than 19% from last July, and down 9.47% compared with June.

The average price of homes sold was also down by 5.36% compared with July of 2008.

Weber County Monthly Home Sale Totals July 2009

There are currently 2261 Homes for sale in Weber County Utah. Including Homes in Ogden, North Ogden Real Estate, Roy Utah Real Estate, Pleasant View Homes, Farr West Homes, Harrisville Homes, Riverdale Utah Homes, West Haven Homes, and other oulying areas in the Ogden Valley.

At July’s home sales pace this is 8 and a half months of active inventory.

Weber County Home Sales and Prices up in June

June was the best month for home sales in Weber County Utah in nearly a year. There were 281 residential homes sold as reported on the MLS for Weber ber County. This number is up 13% from May. 

In addition to an increase in home sales, surprisingly, the median and average price of homes listed in Weber County also rose for the first time in over a year.

The number of new listings for sale in the Ogden area went up to  2212. At Junes sales pace, we Weber County has 7.87 months of inventory.