Local Trends

This month our absorbtion rate has gone down (impressively) 13.55% over last year same time. That is a good sign, showing that inventory is down a bit and prices are attractive enough that people are jumping in quicker. We were at 12.1 months a year ago and are now at 9.94 months.
Average sales price has declined over a year ago from $218,534 to $183,876 - almost a 16% decline. Also on the decline is our days on market (or DOM) from 145 days a year ago to 120 days in June 2011.

Homes priced between $200K and $250K have been the largest number of sale this year to date, so far at 234 units. Washington County has 308 pending sales this month on the books set to close and 341 actually close in June 2011 up 25% from June 2010.

New Listings this month 430, which includes all residential listings.

If you want more information on how you can get this report sent to you email each month, write me at investinutahtoday@gmail.com put MARKET REPORT REQUEST in subject line. It will be a two page report with graphs. Would love to send it to you.