In the past 30 days, 34 homes have been listed for sale, 68 have gone under contract, and 22 have been sold. In the past 180 days, 181 homes have sold with a median sales price of $183,325 and an average time on the market of 70 days. There are currently 143 homes for sale in Clinton. Prices have dropped and sales over the past month have increased, signalling some end-of-winter bargain hunting.
Utah's real estate market, although it has slowed down, is refusing to follow the national trend of plummeting prices and skyrocketing inventories of unsold homes. Many sellers are keeping their homes off the market until things improve. Those who have listed their homes aren't dropping their prices in a rush to sell - preferring to take a "wait and see" approach - which is reflected in the longer times on the market. Still, market times are much lower than elsewhere in the country, with most homes selling in the 60-80 day range. Although it is still probably the most affordable of Davis County cities, Clinton, with its stable prices and low inventory of homes, isn't offering any bargains to buyers right now.
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 Code: 84015 Location Characteristics: Statistical data: http://www.city-data.com/city/Clinton-Utah.html
Clinton, originally part of Layton, was settled in the 1870's by James Hill and his family. Early settlers used it to graze their animals but, even though the land was fertile, culinary water had to be hauled in from the Weber River.
The area was commonly called The Range, Sand Ridge, The Basin and The Summit. The first school was built in 1885 just south of the cemetery.
In 1950, the total population of Clinton City was only 670 and it would be 19 years before the city even established its own police department. But Clinton was poised for tremendous growth, as shown by the population figures below:
Clinton's families reflect those of many other Northern Davis communities. About one of every four were born outside of Utah; almost four of every five households have children under the age of 18 living in the home.
Clinton is a progressive city, seeking to establish a safe, convenient, and fun place to live and raise a family.
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.
