Utah Homes For Sale Trends July 2010 - Salt Lake Real Estate Statistics for First Half of 2010

realestatehomesutah.com mastheadHome nav buttonMLS Property Search nav buttonHome Sellers nav buttonHome Buyers nav buttonUtah nav barEquity Realty Agent nav buttonContact nav button

    Home > > Utah Real Estate News & Trends > >  Jul 2010 Utah Real Estate - Homes For Sale Trends

Utah Real Estate Market Trends for 2010 - First Half

July 6, 2010Salt Lake City Utah Real Estate

Home and condo sales in Utah for the first half of 2010 continue to favor buyers. Sales are up across the state with over 1,000 more homes sold than the same period in 2009. Utah single family home prices are down by an average of 3% or $7,493. Lower home prices, low interest rates and the government tax incentives combined to sell 1,133 more homes than during the the same period a year ago. It take an average of 73 days to sell a home, 17 days less than last year.

On the other hand, the average condo price has risen by $23,292, largely due to high sold prices recorded in Park City. Condo prices also rose in Davis County by a modest $657. Meanwhile condo prices in Salt Lake and Utah Counties have fallen by $11,000 and $19,000 respectively, creating some great prices for bargain hunters.  Condos are taking longer to sell than single family homes by 19 days. Condo sellers should expect to see around 3 months of marketing time to get their home sold if they are priced correctly with the market.

A positive trend that continues for Utah is that home buyers are getting more square feet for their money. The average square foot price for homes in Utah has fallen by $3 compared with the same period a year ago. Home buyers are currently getting an additional 56 square feet of home on average with current purchases.

Conclusions:  Utah home prices are still feeling the effects of a national economic downturn, offering current home buyers many bargains on the market. The inventory of Utah homes currently listed on the market will take approximately 10.5 months to sell. Utah home owners that price their homes competitively with the market can expect at least a two-and- month wait for single family homes and three months for condos to find a qualified buyer for their home. Is it the right time for you to buy a new home or condo?

Below is a summary of the study findings:

2010 Mid Year Real Estate Sales

Utah Average

Single Family Home Sold Price

$241,346

Condo Sold Price

$202,179

Active Properties Listed (6 Months)

21,872

Single Family Homes Sold

10,930

Condos Sold

1,056

Current Inventory (months)

           10.57

Square Feet of Homes Sold

2,488

Sold Price Per Square Foot

$96.90

Days on Market (Single Family Home)

73

Days on Market (Condo)

92

 

 

More details for Utah Real Estate sales for first half of 2010.

Links to 2010 homes for sale by county: Salt Lake County, Utah County, Davis County, Summit County, Tooele County, Wasatch County, and Weber County.

 

 

Notes:
Average Days on Market = # days between listing date & contract date.
Current Inventory = # months to sell current active listings on the market.

Source: WFRMLS (This information is deemed to be reliable, however WFRMLS & RealestatehomesUtah.com do not guarantee accuracy.)

Report Date: July 6, 2010

 

______________________________________

 

 
 
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

Salt Lake City Ranked #1 for Home Buying Bargains - March, 2008

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

Utah High Schools In the Top 5% of the Nation - May, 2008

Salt Lake City, Utah Ranked #3 For Home Sellers - May, 2008

Utah Real Estate Market Pulse - June, 2008

Utah Home Prices Increasing - June, 2008

Utah Housing Market - July 11, 2008
 

Federal Home Purchase Incentives - August, 2008

Utah's Strong Economy and the Housing Market - September, 2008

Utah Ranked #1 - October, 2008
 
 
 

 

 

 

 

______________________

Disclaimer







 

 

 

 

 

 

 

Equity Real Estate Logo

Barry J. Preusz

REALTOR, Residential Specialist


1218 East 7800 South
Salt Lake City, Utah 84094

Office: 801-993-0083



Click Here to Contact Us

agents
utah real estate
Home nav buttonReal Estate | Home Search nav buttonUtah Local Areas nav buttonReal Estate Financing nav buttonReal Estate Glossary of Terms nav buttonReal Estate Resources nav buttonREALTOR Contact


realestatehomesUtah.com      2012     All Rights Reserved



Utah Real Estate Market Trends July 2010, Utah Homes For Sale Figures for First Half 2010 - Barry Preusz | REALTOR


Serving Alpine, Alta, American Fork, Bluffdale, Bountiful, Cedar Hills, Centerville, Cottonwood Heights, Daybreak, Deer Valley, Draper, Eagle Mountain, Emigration Canyon, Farmington, Heber City, Herriman, Highland, Holladay, Kamas, Kearns, Layton, Lehi, Lindon, Magna, Mapleton, Midvale, Midway, Murray, North Ogden, North Salt Lake, Ogden, Orem, Park City, Payson, Pleasant Grove, Provo, Riverton, Salt Lake City, Salt Lake County, Sandy, Saratoga Springs, Snowbird, South Jordan, South Ogden, South Salt Lake, Spanish Fork, Springville, Sundance, Summit County, Taylorsville, Tooele, West Bountiful, West Jordan, West Valley, Woods Cross, Utah County.