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Utah Real Estate Market Trends - Salt Lake City Home & Condo Trends | Housing Market Pulse
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Utah Real Estate Market Pulse 

June 10, 2008

Salt Lake City consistently shows growth in home values and has a relatively short selling time. The median home price in Salt Lake City is $235,000 while condominiums have a median price of $169,200. Average market time is 43 days for single family homes and only 39 days for condos. Condominium sales represent 23% of total home sales in Salt Lake City.

Utah home prices also increased in two other key cities - Heber City and Ogden while falling slightly in Bountiful, Park City, Provo and Saint George. Utah Home Market - Kitchen with Travertine Floor Condos in Park City are also decreasing in price while in Ogden prices for condominiums are increasing. Tooele home prices remain stable. Heber City, Provo, Saint George, Salt Lake City and Tooele also have condominium prices remaining stable. These findings come from a study examining home and condo sales in eight key cities in Utah. This study explores figures collected the past 365 days from May 31, 2008. Each city in the study is located within a separate county.

Park City and Saint George have the longest selling time for homes, both over 90 days. The shortest selling time for homes is Salt Lake City at 43 days. Heber City has the longest selling time for condos at 150 days but also has the fewest selling condominiums at only 6  for the past year. Bountiful has the shortest selling time for condos with an average of only 37 days.

The chart below shows current housing trends for key Utah cities:




City County   Homes Median Price*  Homes Price Change +/- Homes Ave Market Time   Condo Median Price Condo Price Change +/- Condo Ave Market Time Condo Sales as % of Residential Property Sold
Bountiful Davis   $261,250  - 59   $148,200  + 37 28%
Heber City Wasatch   $316,000  + 84   $195,000 same 150 4%
Ogden Weber   $128,500  + 50   $111,500  + 51 11%
Park City Summit   $855,000  - 94   $325,000  - 118 56%
Provo Utah   $211,475  - 65   $160,000 same 68 40%
Saint George Washington   $265,875  - 97   $170,000 same 74 27%
Salt Lake City Salt Lake   $235,000  + 43   $169,200 same 39 23%
Tooele Tooele   $175,000 same 52   $134,900 same 51 4%

 

Source: WFRMLS and realestatehomesUtah.com. Information deemed reliable but not guaranteed.

 





More Utah Real Estate Market Trend Reports

South Jordan Real Estate Trends - February, 2007

Property That Sells In Salt Lake County - March, 2007

National & Utah Real Estate Trends - April, 2007

Salt Lake and Utah County Housing Market - May, 2007

Utah Real Estate Trends for 2007 - June, 2007

Top Utah Home Builders - June, 2007

Utah Real Estate Market Sales - July, 2007

South Jordan Utah Home Market Trends - August, 2007

Ten Year Real Estate Trends for Salt Lake County - September, 2007

Salt Lake County Real Estate Trends - October, 2007

Home Sales Trends in Utah - November, 2007

Utah Home Market Trends Favor Buyers - December, 2007

Utah Home Market Statistics for 2007 - January, 2008

Home Buying Advantage - Winter or Summer? - February, 2008

Is Now A Good Time to Sell A Home? - April, 2008

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Utah Home Prices Increasing - June, 2008

 








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 Barry J. Preusz
REALTOR | Residential Specialist

Equity Real Estate - Burgundy Canyons Group
7090 South Union Park Center, Ste 650, Salt Lake City, Utah 84047

Office: 801-993-0083


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Utah Real Estate Market Trends - Salt Lake City Home & Condo Trends | Housing Market Pulse


Equity Realty Website featuring real estate news, resources, trends, statistics and REALTOR services for Utah, including average Utah home prices, days on market, condos sold, homes sold, average square feet, new listing sold, single family homes sold, 4 bedroom homes sold, 3 bedroom homes sold and more market analysis. Utah real estate news and trends provided by Equity Realty website. Real estate news for Salt lake City, Provo, Park City and Salt Lake County & Utah County. Featuring Salt Lake City current events, downtown Salt Lake City condominium news, new construction news, real estate zoning news, real estate articles, Utah web articles, condo news, master planned communities, retirement community news, information, resources, real estate services, residential property news, townhouse construction news, Utah land and property trends, Utah real estate trends.

Key topics this month: Salt Lake County home sales, Summit County, Wasatch County, Davis County, Utah County, Washington County, Weber County, Tooele County, Utah, UT, median Utah home prices, Utah home market, counties in Utah, days on market, condos sold, homes sold, single family homes sold, real estate market analysis

Serving Salt Lake County, Salt Lake City, Utah County, Provo, Davis County, Bountiful, Summit County, Park City, Wasatch County, Heber City, Weber County, Ogden, Washington County, Saint George, St. George, Tooele County, Tooele.

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