10 Year Real Estate Trends for Salt Lake County | Salt Lake City Home Sales Statistics | 2007 Real Estate Facts - Figures
Average price per square foot, average sales price, average listing price, days on market, price increases, home inventory

utah real estate masthead Home 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 > > October 2007 Real Estate Trends

Salt Lake County Real Estate Trends

October 10, 2007

The following update on the Utah real estate market displays the trends in Salt Lake County. These trends are similar for other surrounding counties. Below is a market summary and a chart showing year to date trends compared with the past three years.

 

Market Summary

 

Price continues to rise:                  R average single family home currently costs $298,022

                                                 R the average condo costs $192,051

                                                 R condos are increasing in price faster than single family homes

                   ______________________________________________________                                        

Supply is increasing:                     R up 25.18% from last year

                    ______________________________________________________ 

Demand is decreasing:                  R down 35.45%

                                                R average days on market until sold is up 5 days from last year

                    ______________________________________________________ 

Residential financing:                    R number of lease options have doubled

                                                R number of FHA loans has increased by 227

                                                R number of Utah Housing Loans have decreased by over 50%

 

 

 

 

Salt Lake County Year To Date Comparisons 2004, 2005, 2006, 2007

 

 

 

 

 

 

 

 

 

 

 

 

2004

2005

% Change

2006

% Change

2007

% Change

 

 

 

 

 

 

 

 

 

 

 

Ave Days on Market

54

 

50

-7.41%

 

31

-38.00%

 

36

16.13%

 

 

 

 

 

 

 

 

 

 

 

Single Family # Sold

10146

 

12046

18.73%

 

11975

-0.59%

 

9551

-20.24%

Single Avg Sales Price

 $196,285

 

 $220,546

12.36%

 

 $265,709

20.48%

 

 $298,022

12.16%

 

 

 

 

 

 

 

 

 

 

 

Condo # Sold

1824

 

2449

34.27%

 

2639

7.76%

 

2257

-14.48%

Condo Avg Sales Price

 $138,641

 

 $147,199

6.17%

 

 $160,433

8.99%

 

 $192,051

19.71%

 

 

 

 

 

 

 

 

 

 

 

New Listings

21886

 

21585

-1.38%

 

23108

7.06%

 

28927

25.18%

Avg % of New Listings Sold

54.69%

 

67.15%

22.78%

 

63.24%

-5.82%

 

40.82%

-35.45%

New Avg Asking Price

 $211,676

 

 $240,182

13.47%

 

 $308,540

28.46%

 

 $359,066

16.38%


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

 

 


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 buttonEquity REALTOR Contact


realestatehomesUtah.com      2012     All Rights Reserved



10 Year Real Estate Trends for Salt Lake County | Salt Lake City Home Sales Statistics | 2007 Real Estate Facts - Figures


Average price per square foot, average sales price, average listing price, days on market, price increases, home inventory.

Salt Lake City, Utah Equity Real Estate REALTOR Services - buying and selling real estate.

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.