May 2007 Utah Real Estate Trends | Salt Lake City Real Estate Sales | Utah County Property Sales
Real estate trends reported for May 2007 for Utah. Equity Realty Website featuring real estate news, web e-zine articles.

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Salt Lake and Utah County Housing Market Trends

 

May, 7, 2007

 

 

Salt Lake County Real Estate Sales

 

During the first four months of 2007 the average listing price for Salt Lake County homes was $271,232 while the average sales price was $267,777. Property sold on average $3,455 less than the listing price. The average square foot of homes sold was 2,206. That number is 102 more square feet than the same period 10 years ago. The average square foot sold price is $121 compared to $102 for the first four months of 2006. Home prices have increased an average of $19 per square foot from last year. The average number of bedrooms is four and the average number of bathrooms is 2. The average number of days-on-market for January through April is 39 days, compared with 38 days last year for the same period.

 

Utah County Real Estate Sales

 

Utah County posted an average listing price of $259,678 while the average sales price was $257,121. Homes sold on average $2,557 less than the average listing price. The average square foot of homes sold was 2,269. which is 293 more square feet than the same period ten years ago. The average square foot sold price is $108 compared to $91 for the period January through April of 2006. Home prices have increased an average of $17 per square foot from last year. The average number of bedrooms is four and the average number of bathrooms is 2.75. The average days-on-market for the first four months of 2007 is 52 days, compared with 61 days last year for the same period.

 

Salt Lake and Utah County Comparisons

 

Home sellers get closer to their listing price in Utah County than in Salt Lake by nearly $900. The average sold home price in Salt Lake County is $10,656 more than Utah County. Home buyers in Utah county not only get a lower price but they get more square feet, an average of 63 more square feet and at a price of $13 less per square foot. Utah County buyers also get more bathroom space, more bathroom. However, houses stay on the market 14 days longer in Utah County before selling.

 

Source: Wasatch Front Multiple Listing Service

 

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Utah, Home to Some Best U.S. Cities

May 14, 2007

 

Salt Lake City - Best to Get Matched

Salt Lake City, Utah ranked second in the nation for the best city to meet single men over 35 by a joint survey conducted by Men’s Health Magazine and “The Oprah Winfrey Show.” The survey found the ratio of single men to women was 1.5 to 1. Salt Lake City men were found to be well educated, “creative daters,” and more relaxed. Abundant recreational activities and cultural events within the “stunningly beautiful” Salt Lake area contribute to a better dating environment. The only city to rank higher than Salt Lake City is San Jose, California. This city was found to have more “healthy, wealthy and ethnically diverse men.

Provo - Best to Get Hatched

Provo is ranked forth in the U.S. for “Best cities for married with kids” in the June issue of Kiplinger’s Personal Finance Magazine. The criteria for selecting Provo include a cost-of-living index below the national average by two index points, a strong economy, low crime and the opportunity for lots of outdoor family activities.

Source: Deseret News, 4/28/2007 and 5/14/2007

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They Build Bigger Homes In Utah

 

 

Utah leads the nation for having the highest percentage of homes with four or more bedrooms. With a stunning 39%, Utah’s homes with four plus bedrooms leads second place Maryland at a distant 28%.

 

 

Rank for Percentage of Homes with Four or More Bedrooms

 

State

Percentage

Rank

Utah

39.2%

1

Maryland

28.0%

2

Virginia

26.5%

3

 

The size of Utah’s families is the most likely factor for the larger homes. Utah is ranked number one for the percentage of population under the age of 18 and number one for the average number of people per household at 3.07. Larger families require larger homes.

 

Rank for Percentage of Population under the Age of 18

 

State

Percentage

Rank

Utah

30.1

1

Alaska

28.4

2

Texas

27.7

3

California

26.9

4

Arizona

26.6

5

 

Utah ranks high in other important housing statistics. Utah is ranked 11th in the country for homeownership at nearly 74%. West Virginia leads the country at 81%. For detached single housing units, Utah ranks 16th at 67.8%. Iowa holds the top rank at 74.1%

 

 

Sources: Deseret Morning News May 32, 2007, Utah leads nation in supersized homes & U.S. Census Bureau, 2005 data.

 

 

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More Utah Real Estate Market Reports

 

 

 










 Barry J. Preusz
REALTOR® | Residential Specialist

1218 East 7800 South
Salt Lake City, Utah 84094

Office: 801-993-0083



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May 2007 Utah Real Estate Trends | Salt Lake City Real Estate Sales | Utah County Property Sales | Utah Real Estate News and Trends | Salt Lake City Real Estate Current Events | Utah Land and Property News | Utah Real Estate Trends | Utah Land and Property Trends | Residential Trends


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