There are currently 220 single family homes for sale in Bountiful. In the last 30 days, 52 homes were listed, 66 went under contract, and 41 were sold. In the last 180 days, 176 homes were sold at a median price of $255,000 and an average time on the market of 68 days. Home sales in Bountiful have been sluggish over the winter, and with spring the number of new listings has started to pick up. With higher inventories Bountiful can be considered a buyer's market, although don't expect many bargains.
WHAT YOU SHOULD KNOW ABOUT UTAH REAL ESTATE: According to the Utah Association of Realtors, the Utah real estate market is stable, and buying a home here is an excellent investment. Here's why:
1. UTAH HAS DEMAND FOR HOMES In 2007, Utah had record population growth of nearly 85,000 people, which translates into about 25,000 to 30,000 new households. With the state expected to add another 84,000 people to the population in 2008, this growth is forecasted to continue into next year and beyond.
2. UTAHNS ARE EMPLOYED About 52,500 new jobs were created in Utah over the past year, and wages have been growing between 5 and 10 percent per year. Utah unemployment has averaged about 2.6 percent over the past year, just over HALF the U.S. average of 4.6 percent!
3. AFFORDABLE LOANS ARE AVAILABLE Mortgage interest rages are at historic lows, hovering around 6 percent. Conventional financing is readily available for qualified borrowers, and FHA loans are becoming popular for those with less-than-perfect credit. Even jumbo loan rates are edging downward.
Utah home appreciation continues to outperform that of any other state in the country. With home prices increasing 12.9 percent over the past year, compared to the national increase of 1.8 percent during the same period, Utah has consistently led the U.S. in home price gains.
ZIP Codes: 84010, 84011 Location Characteristics: Bountiful is a city in Davis County, Utah. Although a part of the Ogden-Clearfield MSA, it serves as a bedroom community to Salt Lake City and the surrounding area. As of the 2000 census, the city population was 41,301, a small increase over the 1990 figure of 37,544. The estimated population in July 2008 was 43,788. The city grew rapidly during the suburb growth of the late 1940s, 1950s, and 1960s.
Many residents who work in Salt Lake choose Bountiful for its sprawling suburban homes, family-oriented lifestyle, and low levels of crime. Commuters pay for these benefits in frequent traffic bottlenecks between Davis and Salt Lake Counties, though the Legacy Highway and commuter rail projects are in place to ease these problems.
Bountiful is one of the more expensive communities along the Wasatch Front, with the median price of homes sold in the last year typically approaching $300K. The eastern part of the city is older with stable, established neighborhoods. New development is largely confined to the western part of the city (west of the I-15 corridor) and along the foothills on the eastern edge of the city, and the city is approaching total build-out. Some of the highest priced real estate in Bountiful surrounds the new LDS temple which sits high on a hill overlooking the city, where the views are spectacular.
About Lonnie Williams, Principal Broker:
Hi, I'm Lonnie Williams and I've been serving Buyers and Sellers in Davis & Weber counties since 2003. Integrity and honesty are my core values. Whether you're shopping for a million dollar home or a starter, if you want a Realtor who puts you first, you've come to the right place!
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
