In the past 30 days in Roy, 72 homes have come on the market, 90 have gone under contract, and 48 have been sold. In the past 180 days, 276 homes have sold with a median price of $159,900 and an average of 65 days on the market. There are currently 239 homes for sale in Roy.
Roy has bucked the overall trend of falling prices and slow sales. Roy's median sales price has varied only slightly from a year ago. The market created by Hill AFB is likely a major cause of the stability in prices. In fact, the number of 'days on market' in Roy is lower than any of the surrounding communities, indicating a strong demand for homes. Roy's wide availability of affordable housing makes it a great place for first-time buyers or retirees looking to downsize.
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: 84067 Location Characteristics: Roy is a busy and growing city that still has the feeling of a small town. Located at the northwestern corner of Hill Air Force Base, it is bounded by Hooper on the west, West Haven and Riverdale to the north, and Sunset on the south. The city is bisected by Interstate 15 and has easy freeway access. Roy boasts a thriving business community, most of which is clustered along the main artery of 1900 West which parallels the freeway.
Roy has many parks and recreation areas and even a golf course. The Roy Historical Museum is a good place to learn about the area's history and culture. There is also an Aquatic Center with pool facilities - a great place for family recreation.
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.
