Sandy Utah Home Sales & Values - September 2007

October 16th, 2007

Sandy Utah September home sales dropped 43% from the prior month and 34% from September 2006. The mortgage crisis hit Sandy hard with only 80 home and condo sales recorded for the entire month os Feptember.

While sales were down, home values remained stable at an average of $380,028 which is a 12% increase over average home values in September 2006.

Sandy Utah - September 2007 Home Sales

Month Average Sold Price Change from Prior Year # of Homes Sold Change from Prior Year Absorption Rate in Months
July $381,834 +14.9% 136 +1.5% 6.3
August $374,941 +15.5% 141 -19.9% 6.7
September $380,028 +12.2% 80 -33.9% 12.7

The absorption rate (the number of months required to sell all current listings) for Sandy doubled in September to 12.7 months. The increase was due to the low sales and the huge increase in the number of listings. Sandy currently has 1,015 active home and condo listings which is the highest ever for Sandy. To see the September absorption rates for all of Salt Lake County check check this post.

Salt Lake County - September 2007 Home Sales

Month Average Sold Price Change from Prior Year # of Homes Sold Change from Prior Year Absorption Rate in Months
July $311,576 +11.1% 1,269 -5.2% 6.6
August $316,151 +10.3% 1,294 -12.2% 7.0
September $300,066 +6.2% 848 -34.2% 11.0

Home sales in Sandy is pretty consistent with most of Salt Lake County. See the above comparisons.

Has Sandy real estate hit rock bottom? Will home sales continue to decline? Will real estate values, which have remained strong in Sandy start to decline with the increased absorption rate?

If you’re interested in information on any particular zipcode or neighborhood just contact us at 801–582–5882 or at Ask The Broker.

Information for our stats were taken from WFRMLS as of 10/16/2007 and are subject to change at the discretion of the web-master. Zipcodes included for Sandy Utah include 84070, 84092, 84093, 84094.

This entry was posted on Tuesday, October 16th, 2007 at 4:20 pm. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Leave a Reply

Enter the code that you see in the image