Utah Home Market Trends Favor Buyers | Home Sales Trends for Salt Lake County | Salt Lake City Home Sales Statistics
Average market time, number of homes sold, average sales price, condos sold, days on market, home price increases.

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    Home > > Utah Real Estate News & Trends > > Real Estate Trends December 2007
Utah Home Market Trends Favor Buyers
 
December 8, 2007
 

Year 2007 is in its final chapter and has been an interesting year for the Utah home market. In a study conducted by realestatehomesUtah.com on this year’s home sales through November within counties and cities near Salt Lake, the figures show a very favorable market for current home buyers. Home prices continue to go up and the number of homes listed on the market are increasing. Rising prices and high inventory means that the value in a home continues to grow after the purchase and a large selection of available homes for sale.

Displayed in the chart below, the average market time for currently active listings ranges from a low of 54 days to a high of 126 days. In this study, home sellers in Murray should be the happiest, experiencing the least number of days on the market. Home buyers can expect the lowest median home price in Davis County and the highest in Salt Lake County. For the highest median home prices within a city, buyers can expect an Alpine or Park City home to be nearly double the price of most other cities.

Highlighted figures in the chart below depict the market leaders.

  Real Estate Market Trends - December 8, 2007

 

Active Market Listings

 

 

 

 

 

 

Single Family Homes

Condos

Ave Market Time (Days)

Low Price

High Price

Average Price

Median Price

Salt Lake County

6347

1104

68

$ 3,500

$ 8,750,000

$ 415,187

$ 309,900

Cottonwood Heights

195

23

61

$ 139,900

$ 4,395,000

$ 526,734

$ 395,000

Daybreak (Community)

117

8

83

$ 180,900

$  695,000

$ 367,576

$ 340,470

Draper

556

79

75

$ 177,900

$ 5,500,000

$ 628,407

$ 489,000

Holladay

187

56

80

$ 68,900

$ 6,900,000

$ 747,050

$ 496,000

Murray

119

70

54

$ 104,900

$ 1,199,000

$ 295,339

$ 234,900

Salt Lake City

1571

433

65

$ 73,900

$ 8,750,000

$ 384,290

$ 275,000

Sandy

679

113

69

$ 129,900

$ 5,399,000

$ 489,673

$ 345,000

South Jordan

518

26

74

$ 180,900

$ 2,700,000

$ 474,398

$ 420,000

West Valley City

462

44

64

$ 74,900

$  999,999

$ 222,178

$ 210,900

 

 

 

 

 

 

 

 

Davis County

2022

150

72

$ 87,000

$ 3,650,000

$ 349,292

$ 284,990

Bountiful

192

50

66

$ 121,900

$ 3,650,000

$ 464,183

$ 309,000

Clearfield

114

7

62

$ 87,000

$  330,000

$ 196,071

$ 193,200

North Salt Lake

130

44

73

$ 139,990

$ 1,875,000

$ 443,178

$ 299,000

Woods Cross

44

4

76

$ 169,900

$  518,900

$ 286,137

$ 270,000

 

 

 

 

 

 

 

 

Utah County

3751

624

84

$ 81,900

$ 12,900,000

 $        387,677

$ 294,900

Alpine

85

1

92

$ 199,999

$ 12,900,000

$ 1,088,548

$ 749,900

American Fork

218

32

101

$ 127,900

$ 1,499,500

$ 325,602

$ 275,000

Lehi

603

65

81

$ 139,900

$ 2,649,000

$ 389,263

$ 320,000

Payson

113

30

74

$ 117,500

$ 1,500,000

$ 285,076

$ 229,450

Provo

388

195

94

$ 81,900

$ 4,500,000

$ 367,179

$ 229,900

Saratoga Springs

330

31

73

 $     144,900

$ 1,390,000

$ 366,720

$ 334,839

Spanish Fork

221

12

80

$ 113,000

$ 3,278,761

$ 311,991

$ 249,900

 

 

 

 

 

 

 

 

Park City

272

410

126

$ 1,250

$ 23,000,000

$ 1,060,226

 $     639,900

 

 

 

 

 

 

 

 

 

 

 

Note: the low price for Park City and Salt Lake County are time shares.

 

 

 

 

 

Source: WFRMLS and realestatehomesUtah.com. Figures are considered 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

 


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Barry J. Preusz

REALTOR, Residential Specialist


1218 East 7800 South
Salt Lake City, Utah 84094

Office: 801-993-0083



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Utah Home Market Trends Favor Buyers | Home Sales Trends for Salt Lake County | Salt Lake City Home Sales Statistics | 2007 Real Estate Facts - Figures


Number of homes sold, average sales price, median home prices,  high price, low price, single family homes, condos sold, average days on market. Year-to-date residential sales and real estate trends for Salt Lake, Utah, Davis Counties. Properties sold in the Salt Lake Valley and the resulting trends.

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