$200,000 is the magic number for homes in Murray in 2008. For the first six months of the year the median price of 193 homes that sold in Murray was $200,000. So, if you're trying to sell a home and it's less than $200,000, you're probably in pretty good shape if the home is in good shape. The only problem is that the median price of listings actually on the market right now is almost $250,000... The average list price of 264 Murray MLS listings is quite a bit more at $323,257.  This statistic tells us that the probability of selling the more expensive homes isn't great. Murray has about 8 and a half months of active inventory. 07/11/2008

Welcome to the Heart of Utah Real Estate monthly real estate market report for Murray, Utah located in Salt Lake County. As with previous market reports, this report will be broken down into two different sections, one for Single Family Residence's and the second for Condos. Please keep in mind that the real estate market report I have provided is a compilation of a large price range for the entire city of Murray and should not be confused as being the price in which your home will currently sell for. Also please take note: “SOLD” indicates all the properties that sold during the month of February 2008. “Under Contract” are the properties that have gone through negotiations and are currently awaiting their closing date as of the date I pulled this report (3/08/2008). “Active Listings” a... 03/08/2008

Welcome to the beginning of my 2008 monthly real estate market report for Murray, Utah located in Salt Lake County. This report will be broken down into two different sections, one for Single Family Residence and the second for Condos. Please keep in mind that the real estate market report I have provided is a compilation of a large price range for the entire city of Murray and should not be confused as being the price in which your home will currently sell for.  Also please take note:  “SOLD” indicates all the properties that sold during the month of January 2008.  “Under Contract” are the properties that have gone through negotiations and are currently awaiting their  closing date as of the date I pulled this report (2/18/2008).  “Active Listings” are all the homes currently listed wi... 02/23/2008

Murray, Utah has an interesting mix of Homes/Condos for sale. Interesting and unique. For example, last week I found that of the 202 properties listed on the MLS, over 38% were Condominiums. With the exception of downtown Salt Lake City, that is by far the greatest concentration of condo living in the SL Valley. The selection is great too. We found condos for sale any where between a low of $115,000 to a high of $232,000. Some houses started in the low $130s, but we saw one listed last week at $445,000. Maybe the broad selection is why Murray only has about a 5 months supply of inventory. Or maybe it's just that people like condos. They must. Of the 9 houses sold last week, 4 were Condominiums, and of the new listings, 10 were condos, only 8 were houses. Something else worth mentioning ... 02/09/2008

The Mid- Jordan Light Rail Corridor means less traffic, cleaner air, and rising Real Estate values. Just like in the old west, if you owned land in the path of the tracks you were in good shape. Today, if you own a house or condominium along the corridor of the Mid- Jordan Trax line you're in the path of rising Real Estate values, according to South Jordan City Manager Rick Horst. In an article in the December issue of the West Jordan Journal, by Caroline Kingsley, Mr Horst is quoted as saying "the Mid- Jordan Line is critical to the city and its transportation plans as South Jordan grows from its current population of 50,000 to over 140,000".  West Jordan Community Development Director, Tom Burdett further stated that "land values around light rail lines traditionally go up along their... 11/21/2007

Murray Utah   Murray…its what’s happening!  It does not feel right to say.   Nonetheless, there is a lot happening in Murray. Murray use to have a smelter with large smoke stacks.  Now it has Intermountain Medical Center, a $560 million mega-hospital on 100 acres.  And Inverness Square, a 119-unit townhouse development with a wicked fast internet connection and walking distance to the hospital and Trax.  Murray is located in the center of the valley from 4500 South to 6500 South.  There has been a little bit of speculation from investors lately anticipating a rise in prices as the new hospital opens up and people need places to live close to work.  The speculation has not had a major affect on prices and homes are still relatively affordable.  Condos start at 100,000, homes at 150,000 ... 09/24/2007

Ever wish you could park the car, and only bring it out again for long trips and vacations?   Tired of yard work and upkeep on a house that's more than you need in both space and expense?  If your answer is yes, you might want to keep an eye on some very unique and interesting developments that are coming down the pike (actually the TRAX).   In many areas of the Salt Lake Valley, planners are busy evaluating plans for a new Real Estate development concept referred to as a "walking Community". The "walking Community" concept is simply using a convenient transportation hub (TRAX STATIONS) as the anchor for high density  condominiums and town homes with walking paths that direct home owners through planned open space to light retail and shopping.  The obvious attraction is a car free envir... 09/23/2007

Murray Utah home values increased 6.62% from last month and have increased almost 9% since the first of the year. The increase in home values over May 2006 is a consistent 20%. The number of homes sold in Murray only averages 15 per month and has been very flat over the last 5 months.   The absorption rate of listing inventory (the number of months it takes to sell the current listings at the current sold rate) almost doubled in May to 8.3 months. It's normal to have an increase in May as it is one of the highest listing months of the year. But, doubling is a little much. The NAR considers 6 months of inventory a neutral market. 8.3 months is moving into a buyers market. All stats were taken from WFRMLS as of 6/9/2007 and are subject to change. To find a Utah Real estate Agent visit the... 06/09/2007

Murray April 2007 Home & Condo Sales Report Murray home sales increased 7% from March 2007 but declined 36% from April 2006. Home values increased 1.5% from March 2007 and were up 23% from their April 2006 levels. Days on market shortened by 19% from March and 53% from April 2006. Sales are strong at 17 days on market.        2006 2007 Change % Homes Sold 2516-36% Average Sold Price $212,180 $261.082 +23% Condos Sold 20 25+25% Average Sold Price $114,020 $151,489 +32% Average Days On Market 36 17 -53% Murray values increased compared to the prior month and compared to April 2006. The increase is consistent with other cities in Salt Lake county with average homes values below $250,000. First time home buyers appear to be the strongest segment of the market.   If you want any further info... 05/29/2007

Murray Utah homes sales drop 31.58% while values rise 24.94%.The following table compares home and condo sales in Murray Utah between March 2006 and March 2007. Please be cautious in making any buy or sell decisions based on a single months analysis. Quarterly and trend analysis are much more meaningful than isolating a single month. But, it is interesting to compare our statistics to what we see in national and regional activity and trends. March 2006March 2007Change %Homes Sold1913-31.58%Average Sold Price$205,785$257,100+24.94%Condos Sold2515-40%Average Sold Price$119,920$119,640-0.23%Average Days On Market3620-44.44%The reports by city are so consistent between Salt Lake City, Holladay, Murray, South Salt Lake? They are all showing a significant drop in the number of homes sold and ... 05/04/2007

The numbers are in and Murray, Utah residents are anxious to hear how we did in home appreciation compared to last year and especially compared to projections. If you recall, Utah ranked #1 in appreciation in 2007 with an increase statewide of 17.55%. And the Salt Lake Metropolitan area, which included Murray,  was forecasted to increase 5.40% in 2007. So how have we done so far? Murray, which includes zip code 84107 is the jewel in the desert. I personally believe this is an undervalued area of Salt Lake and will see some of the best growth potential in the next few years. While it was only 12th in the valley for growth during 2006 (17.12%) the days on market as of 3/31/2007 is only 20!1st Quarter 2006 Sales Compared to 1st Quarter 2007 20062007% ChangeHomes Sold3742+13.51%Average Home... 04/04/2007