Box Elder Real Estate No Where Near Recovering
Box Elder County Real Estate in 2009 looks pretty dismal. Home sales were almost half of what they were in 2008. They were less than half of what they were in 2007. Home prices also look bleak, and there are no signs that the real estate bottom is near for Box Elder County Real Estate.
Just, 283 residential homes sold in Box Elder County last year. This is down 40% compared with 2008 when 468 residential real estate listings sold. Home prices were also substantially down. The median home price in 2008 was $144,500, down 7.4% from the year before.
These home prices will likely decline more as there is a large surplus of homes on the market. There are currently 314 homes for sale in Box Elder County Utah. At last years sales pace, this is 13.3 months of active real estate inventory.
The individual cities within Box Elder County all followed similar trends; home sales and prices were down.
Brigham City Real Estate – Home Sales in Brigham City were down 38%. 122 homes sold compared with 197 in 2008. The median point of homes sold was $139,000, down 6.68% from a year ago. There are currently 102 homes for sale in Brigham City; representing 10 months of active inventory.
Tremonton Utah Real Estate – Tremonten has seen the steepest decline in home sales over the last two years. Last year home sales were down nearly 44% in tremonton. The median sold price of $144,838 was 8.33% less than it was a year ago. There are currently 79 homes for sale in Tremonton Utah; 14.81 months of real estate inventory.
Garland Utah Real Estate – Garland Utah has nearly 18 months of real estate inventory based on the 19 homes that sold last year. There are currently 28 homes for sale. The median price of homes that sold in Garland plummeted by more than 20%. This doesn’t mean that Garland home prices are down this much, just that the homes that sold were of the more affordable variety.
Willard Ut Real Estate – Home Sales in Willard were down 33%, but prices were just slightly down from their averages in 2008. There are 39 homes for sale in Willard, and 23 homes sold last year giving Willard 10.9 months of inventory.
Perry Utah Real Estate – 23 homes sold in Perry during 2009, no where near the 77 that sold just two years previous. Perry currently has 29 homes for sale, and more than 20 months of inventory at last years home sales pace.
It looks like it will be more than a year before the Box Elder County Utah Real Estate Market really turns around.
