Utah County Association of REALTORS®
Monthly Statistics
To:	Brokers and Agents
From:	Taylor Oldroyd, CEO Utah County Association of REALTORS®
Subject:		Monthly Statistics- May 2009
	1	I'll take a one percent increase in sales anyday of the year and to have one at this time is welcome news. Units sold in May increased 1 percent from 418 sold last year to 423 this May.
	2	Condos have good news to report: prices are holding steady at $160,000; this follows months of reductions. Further proof that price is holding stable -- compared to April, price actually increased 8 percent. But before you get too excited, it takes 54 percent longer to sell this year than last and sales are still off last May, hitting only 68 this May.
	3	Looking at price breaks: we show that buyers are still looking for deals. No homes above $1 million sold in May; last year there was 2. At the $500,000 point: listings are off 46.5 percent and sales remain far below last year…but YTD sold is steady - down only 5 percent. At the $250,000 break: a full 25 percent of all homes sold range from $250K to $499K. I think this is a strong showing but another way to look at it is that almost 75 percent of all homes sold were below $250K.
Summary:		I think we have much to celebrate with this months stats. Listings are down 16 percent yet sales increased slightly. Price is down 5 percent and not surprizingly it takes much longer to sell this year than last. Shoppers are still looking for deals so price is key for a successful transaction.