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

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Salt Lake Homes For Sale Trends in Utah



July 6, 2010Utah Home Stimulus Packages

Salt Lake County homes are selling for $16,000 more on average than in the rest of the state. The average sold price for a Salt Lake home was $257,572. Current homes listed on the market constitute a 9 month inventory, about a month-and-a-half less than the state average. A Salt Lake home that sold during the first half of the year averaged $103.45 per square foot. It is taking just over two months to sell a home that is priced with the market.

Salt Lake condominiums are selling for nearly $30,000 less than the state average. Condo prices average $173,000 and offer buyers a significant savings compared with a single family homes. Condo buyers can expect to save an average of $85,000 on their purchase when choosing a condominium over a single family home. Salt Lake home owners need an average of 35 more days to sell a condo than for single family home.

Conclusion:  Low interest rates, great inventory and low prices currently favors buyers. Sales activity is likely to drop moderately with the cessation of the government tax incentives. The recent upward movement in employment and economic figures could improve home sales if the trend continues.

Salt Lake Homes For Sale Statistics for First Half of 2010

2010 Mid Year Real Estate Sales Salt Lake Utah Average Difference
Single Family Home Sold Price $257,572 $241,346 $16,226
Condo Sold Price $172,973 $202,179 ($29,206)
Active Properties Listed (6 Months) 7,722 21,872 (14,150)
Single Family Homes Sold 4,546 10,930 (6,384)
Condos Sold 539 1,056 (517)
Current Inventory (months)               9.06             10.57            (1.51)
Square Feet of Homes Sold 2464 2488 (24)
Sold Price Per Square Foot $103.45 $96.90 $6.55
Days on Market (Single Family Home) 65 73 (8)
Days on Market (Condo) 100 92 8



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.



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

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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

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Home Sales Trends in Utah - November, 2007

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Utah Home Market Statistics for 2007 - January, 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

Click Here to Contact Us
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Salt Lake Homes For Sale Trends in Utah for the First Half of 2010 - Utah Real Estate Sales Statistics for 2010

Salt Lake area includes Alta, Bluffdale, Draper, Holladay, Kearns, Magna, Midvale, Murray, Riverton, Salt Lake City, Sandy, South Jordan, South Salt Lake, Taylorsville, Union, West Jordan, West Valley City, White City, Copperton, Herriman, Bingham Canyon, Cottonwood Heights, Brighton, Emigration Canyon, Snowbird, and Solitude.

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