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Draper, Utah Explodes With Growth In Salt Lake Valley
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by Blanche Evans
Located on the south end of Salt Lake Valley, Draper, Utah is just beginning great business opportunities with car dealerships, malls, country stores and a wide variety of living options with rising prices, say local Realtors.
"Draper has experienced large growth in the last few years time," says Realtor Karen Hogan. "In Draper you will have a wide choice of options to live in including a prestigious mountain-side home with a great view of the valley below, on a large and beautiful horse property, in a cute and modern subdivision, condos, or older and historical homes."
She advises, "It's a growing community that faces challenges, but is a very nice place to live in. Market conditions for the Draper area are excellent for the buyer at this time."
Says Realtor Ben Davis, "Draper is one of the nicest new areas in the Salt Lake Valley. It is an area with a highly growing population. Most of the homes in this area are less than 15 years old. Most home prices ranging From $200,000-$500,000. There are a few very nice areas in Draper that have executive homes ranging from $700,000-$1,200,000.
"This area has many amenities," says Davis. "some of the Best golf Course in the Salt Lake Valley. There are even many areas that you can buy your new home right on the fairway. Being tucked right against the mountains there are many area in which to hike including the Wascach Mountain range. There are many areas to go biking around Draper. Much of the South Mountain project have walking and biking tails."
"Statistics from January 2003 to the end of May 2003 show that 208 homes sold in Draper at an average sales price of $302,147," says Realtor Steve Fairbanks, "which is an increase of over $28,000 from 2002. (If you are looking for four or more bedrooms, the average price of a home increased to $316,326, up $10,000), and 24 condos sold at an average price of $148,643, down $14,000 from 2002. The average days on the market was down from 70 days to 51 days.
Numerous foreclosures in the upper price ranges have skewed these numbers to make it appear that prices are increasing, but that is not really true.
Advises Fairbanks, "Sellers still need to remain realistic about value. Many new homes are available, but the best buys can be made on existing homes. If you want new, make sure you get an agent to represent you before you look. Onsite agents represent the builder and not you. Remember also, no matter what incentives they offer, there is no free lunch."
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