Here we go…. My first blog, I chose to write about Washington Terrace, Utah. One of the best Cities to buy Real Estate. (My opinion) I also was raised there. I enjoy selling and marketing Real Estate in Washington Terrace, Utah.
Let’s look at the 1st quarter 2008 Real Estate Stats.
23 Homes Sold
Average time on the market: 48 days
Average Price: $144,900
Median Price: $134,800
Low: $103,000
High: $330,000
There are currently 33 Single family homes on the market. (April 3, 2008)
1 Multi-family (Duplex) Sold for $220,000.
There are currently 2 Multi-family properties on the market. (April 3, 2008)
In my 6 years of Real Estate experience and dealing in Washington Terrace, the market has seen some good steady appreciation, around 10% per year. The 1st quarter 2008 has seen a little slow down but demand is relatively strong. One reason for strong demand is the city is close to good Commerce, Shopping, Restaurants, Retail, Schools, Transportation, and Employment.
Washington Terrace is a great place for investors to own rental property. The Properties I own there have virtually no vacancies, and rent is good and rising.
-Some basic demographics-
Population for Washington Terrace City
Population = 9,139
Land Area = 1.9 Square Miles
Growth Rate: 1.3%
State Growth Ranking: 56th Percentile
National Growth Ranking: 77th Percentile
Annualized (Last 5 Years)
Income for Washington Terrace City
Median Income: $45,300
State Income Ranking: 45th Percentile
National Income Ranking: 59th Percentile
Average Income
Households with Children: $52,730
State Income Ranking: 40th Percentile
National Income Ranking: 49th Percentile
The accuracy of all information is deemed reliable, but is not guaranteed
This has been my first blog post. If you have any feedback I would greatly appreciate it. What did you like? Was it easy to read? What area’s can I improve?
Thanks,
Marty Reynolds
www.Iamutahrealestate.com
Filed under: Utah Real Estate
