We still are having a low percent of new listings being SOLD.  Currently (25.35) % on a year over year, YTD comparison and we need positive % of listings sold, with positive price action to confirm market bottom. Please see data below.                                                                                  PRICE ACTION   Other good signs in addition to positive price action is lower DOM (days of the market) and lower new listings.             SUMMARY  Currently we are not seeing the needed positive price action to confirm a market bottom. This is NOT a good time for conservative buyers to purchase.  High risk tolerant investors and speculators are doing some bottom fishing. For more details or just to chat about market conditions please feel free to contact me.   12/05/2008

For the first half of 2008, 115 homes sold in Springville. These homes had a median list price of $185,000 and an average price at just over $200,000. These homes really seem pretty affordable, so why aren't more homes selling? Sure the economy is struggling, gas prices are ridiculous and financing is more difficult to obtain, but Utah County is still growing and people need places to live. One of the other reason homes in Springville aren't selling is because they are just too expensive. Currently there are 303 residential homes for sale in Springville. These listings have a median price of $225,000 (18% higher than the median sold price), and an average price at $293,000 (30% higher than average sld price). The bulk of the houses for sale are priced higher than what the average person... 07/17/2008