Draper
Draper Utah Home Sales & Values - September 2007
October 16th, 2007
Draper Utah Real Estate is in the tank! September home sales dropped 55% from the prior month and 64% from September 2006. The mortgage crisis has completely crippled Draper home sales. The entire month of September Draper had only 22 home and 7 condo sales.Â
While sales were down, home values increased to an average of $490,637 which is an increase of 6.9% over September 2006 values.
Draper 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 | $446,072 | +.2% | 64 | -18.9% | 9.9 |
| August | $180,619 | +2.2% | 65 | -13.3% | 10.6 |
| September | $490,637 | +6.9% | 29 | -63.8% | 24.2 |
The absorption rate (the number of months required to sell all current listings) for Draper more doubled doubled in September to 24.2 months. That means it would take 24 months to sell the current listings if no additional homes were added to the market. And in September alone Draper had 224 new listings added to the market for a total of 702 listings. To see the September absorption rates for all of Salt Lake County 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 Draper is “THE” worst in Salt Lake County. Even Riverton and South Jordan are doing better. See the above comparisons.
Has Draper real estate hit rock bottom? Will home sales continue to decline? Will real estate values, which have continued to climb in Draper 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 Draper Utah include 84020.
| Discussion: 1 Comment »
June 2007 Home Absorption - Salt Lake City Real Estate
July 6th, 2007
| Discussion: 5 Comments »
Searh the MLS
Your Home's Value
Featured Properties
Home Utility Rebates
SaltLakeSpeaks Communities
- About Us
- Bluffdale
- Cottonwood Heights
- Davis County
- Draper
- Herriman
- Holladay
- Jocularity
- Kearns
- Magna
- Midvale
- Millcreek
- Mortgage Musings
- Municipal Meanderings
- Murray
- News & Happenings
- Random Ramblings
- Real Estate Roundup
- Real Estate Roundup
- Riverton
- Salt Lake City
- Salt Lake County
- Sandy
- School Soundoffs
- South Jordan
- South Salt Lake
- Sports & Recreation
- Summit County
- Taylorsville
- Utah
- Utah County
- Wasatch County
- West Jordan
- West Valley City
Blogroll
- Cary NC Real Estate
- Central Denver Blog
- Dave For Mayor Blog
- Denver Real Estate & Relocation
- Luxury Home Digest
- Options Realty
- Pittsburgh Homes Daily
- REagent in Connecticut
- Real Estate Tomato
- Sacramento Real Estate Voice
- San Francisco Real Estate
- St. Louis Real Estate Voice
- The Real Estate Sizzle
- Tomato Blogs
- Tomato Tutorials
Salt Lake Sites of Interest
SaltLakeSpeaks Favorites
- Buyers or Sellers Market?
- District 6 Blog Debate - Candidate Bios
- FICO Stops Piggy-backing Fraud
- Parleys Historic Nature Park or Dog Park?
- Realtors Are NOT Meth Cops!
- Utah Home Owners Get Rebates from Utility Companies
- Utah Real Estate - Fraud Alert
- Who’s METHing with Your Home?
Archives
- October 2007
- September 2007
- August 2007
- July 2007
- June 2007
- May 2007
- April 2007
- March 2007
- February 2007
- January 2007
- December 2006
 
 
 
 
 
 
 
 











