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Nibley Utah Quarterly Residential Real Estate Statistics-11/19/2010

Posted by Lisa Udy on Friday, November 19th, 2010 at 2:12pm.

Nibley Utah Quarterly Real Estate Housing Report

Quarterly Comparison Average Days on Market

The average days on market for Nibley Utah real estate have been pretty consistent over the last two years.  Based on this data your home will sell fastest in the first, second, and third quarters of the year. During the fourth quarter of 2008 and 2009 the average days on market increased significantly. It will be interesting to see what the fourth quarter of 2010 looks like.

Quarterly Comparison Average Sold Price

The average 2010 third quarter sold price is up about 4% from the last time the market peeked in the third quarter of 2008. The average sold price hit record lows in the second quarter of 2010, and record highs in the third quarter. The Nibley housing market has varied greatly throughout 2010.

Quarterly Comparison Total Homes Sold

Total number of third quarter sold properties is down about 42% from total sold third quarter properties in 2009. It is a great time to be a buyer. With lots of available inventory in the Nibley market you have more choices in homes than ever. 

Quarterly Comparison Average Price per Square Foot

The average price per square foot peeked, at $106 per square foot , in the fourth quarter of 2008. Prices have remained steady throughout 2010. Let's compare how much you would pay for a 2500 Sq. foot home at the 2008 price of $106 vs. the third quarter price of $87 in 2010. 

In 2008 at $106 a square foot you would pay $265,000 for a 2,500 Sq. FT home (2,500 x $106 =$265,000.)

In 2010 at $87 a square foot you would pay $217,500 for a 2,500 Sq. FT home (2,500 x $87 =$217,500.)

In essence you are getting the same home today for $47,500 less than you would in the fourth quarter of 2008.

For more information on the Nibley Utah real estate market please contact us.

All information from the WFR MLS.

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