February Real Estate Report
According to the Wasatch Front Regional Multiple Listing Service, 12 homes were sold during February 2008 in the 84116 Zip Code (comprising an area that includes all of Rose Park to the Davis County line, South to an area not far from North Temple).
The price range of sold homes during February was from $126,500 for a 2-bedroom/1bath home to $206,000 for a 4-bedroom/2 bath home.
The best mortgage rates ranged from between 5.9% and 6.5% during this time, trending upwards.
The ‘typical’ 3-bedroom 1-bath, 1950’s Rose Park home sold for an average of $158,900 in February. Down about 11% from average highs a year ago, but still about a third higher than the price trends of 1999-2005.
Inventories in the 84116 Zip Code include 140 properties currently for sale, 50 of those under contract with buyers, this turnover showing that this area is doing much better than the rest of the nation, and even much of the Salt Lake Valley.
Report submitted by Kelton Baker, Rose Park area Realtor