02 June 2008

Tooele County Homes For Sale Report, May 08

There are 605 Homes for Sale in Tooele County. Ninety seven per cent of those are located in Tooele City, Erda, Stansbury Park, or Grantsville Utah. Forty six are condominiums according to the June 1, 2008 Tooele homes for sale county report.

This report is a "thumbnail sketch" as my friend Jay Thompson, The Phoenix Real Estate Guy would say, of what happened over the last 30 days with homes for sale in Tooele County.

Tooele County Utah, homes for sale is not all It covers. The report deals with the activity of homes/condominiums available for sale during the last 30 day period.  If you are a real faithful reader of this blog, you might even pick up on a trend or two in your local market. Thats why we report monthly, sometimes weekly. Whenever we think we have something of interest for our clients. .

 Quarterly reports are good, but monthly reports allow analasis as it happens. Different areas can turn around almost overnight; what was a hot Real Estate market 2 weeks ago might show signs of coming apart today.

We'll show how many homes have been added to the areas inventory, how many houses actually sold and closed during that 30 day period,  how many new home contracts have been written, and high, low, and median prices of those homes or condominiums.

You can also see what is happening in the Short Sale market, which some real investors use as a bell weather indicating the health of Real Estate in An area.

Since we are using statistics from the Wasatch Front MLS, this report may not include all of the Homes For Sale By Owner (FSBOs) as most of these homes are not listed on the MLS. Those houses that are listed, will be included.

A very large number of FSBOs are eventually sold by local Realtors.

The same is true of New Homes (new construction). Most builders employ agents to staff model homes and represent the builders interest in the home or condo purchase. These homes are rarely listed across the MLS. (see buying a new home). Examples of this are the New Homes in Benson Mill @ Stansbury Park, and most of the New Construction @ The Willows in Grantsville, Ut.

Total number of Tooele County Homes Listings:
Excluding most FSBOs and new construction, there are 605 homes for sale in Tooele County on 6/01/08.
Fourty six are condominiums. All but one of those condos are in the city of Tooele.

Tooele County Homes Activity Last 30 Days:
During the last 30 days, Tooele Realtors listed 168 homes for sale. No condos were listed.
During that same time 56 homes and condos were sold and closed.
In May Tooele Realtors wrote 50 contracts for either a home or condo.

Bank Owned, REOs, Foreclosures, Short Sales, And Homes needing Third Party Approval:
In Tooele County there are only 30 distressed properties, IE: Bank Owned, Foreclosures, short sales and homes that need approval from a lien holder to make a sale.
None of these are Condominiums.
Seven short sale or Bank Owned homes or condos have been added to the MLS, Homes for sale over the last 30 days.
Homes or Condos put under contract was 1
During May, 6 Houses or Condominiums were sold and closed.
Over the last 30 days, 2 single family homes were withdrawn for various reasons.

Comments:
While the Tooele Valley shows more than a 12 month inventory of homes for sale, an unusual amount of these would take that long to sell in a sellers market ( which this is not).  Much of this inventory is at a higher price point than this market is used to, and New Homes Construction at attractive pricing has taken some steam from the previously owned home market.

You will be interested to look at the upcoming reports from various cities around the Tooele Valley. The difference in the reports, one city to the next, even in an area of activity as small as this is proves the adage that all Real Estate is local. Be sure to watch for reports next week for homes for sale in   Stansbury Park, Tooele City, and Grantsville Ut.

You can access all 605 homes for sale in Tooele County by visiting our website @ Tooele Homes. You'll get pictures, prices, locations with maps and important information about the homes or condos for sale.

Looking for more Real Estate information, articles or tips on buying a home? Stop by Tooele Real Estate and explore what we think is the best resource in Tooele County

Thanks for being here, and thanks for your interest in the Tooele County homes for sale,  report!!

 
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