Nibley Utah Yearly Residential Real Estate Statistics-11/19/2010
Posted by Lisa Udy on Friday, November 19th, 2010 at 1:25pm.Nibley Utah Yearly Real Estate Housing Report
Yearly Average days on market
Average Days on market in 2008 from 01/01-10/31/2008 is: 138
Average Days on market in 2009 from 01/01-10/31/2009 is: 138
Average Days on market in 2010 from 01/01-10/31/2010 is: 158
2010 year to date average days on market for Nibley Utah is 13% longer than in 2009 and 2008. Average days on market in Nibley are higher than the 2010 average days on market for all of Cache County Utah. Year to date average days on market in Cache County is 135 days. In order to sell your home quickly you must be the best house, in the best condition, and for the best price in today’s market.
Yearly Average Sold Price
Average sold price in 2008 from 01/01-10/31/2008 is: $189,724
Average sold price in 2009 from 01/01-10/31/2009 is: $200,042
Average sold price in 2010 from 01/01-10/31/2010 is: $214,154
Over the past three years we have seen a slight increase in the average sales price in the Nibley market. Through October 31, 2010 the average sold price is up about 11% from year to date sold prices in 2008, and is up 7% from 2009 sold prices. The average sold price peaked in August at the end of the summer buying season.
Yearly Residential Total Homes Sold
Total Yearly Residential Sales 01/01-10/31/2008: 65
Total Yearly Residential Sales 01/01-10/31/2009: 61
Total Yearly Residential Sales 01/01-10/31/2010: 51
Through October 31, 2010 Nibley‘s total homes sold is down around 22% from year to date numbers in 2008. The number of homes sold has steadily declined over the last two years. We are seeing fewer units sold, meaning inventory is up, and buyers have great options when looking for a new home.
Yearly Average Price per Square Foot
Average price per square foot 01/01-10/31/2008: $91
Average price per square foot01/01-10/31/2009: $92
Average price per square foot 01/01-10/31/2010: $87
The average price per square foot in Nibley through October 31, 2010 is $87.00. That is down $4.00 per square foot from the same time period in 2008. The average sold price per square foot has decreased steadily over the last two years. Let’s look at the numbers and see how they affect the kind of home you can get today.
At $91 a square foot you would pay $227,500 for a 2,500 Sq. FT home (2,500 x $91 =$227,500.)
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 for $10,000 less than you would in 2008.
For more information on the Nibley Utah real estate market please contact us.
All information from the WFR MLS.
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