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Utah Home Prices Still Increasing  

June 11, 2008

Home prices in Utah are continuing to increase. The average home price for the past 12 months, June 2007 – May 2008, is $254,103. The average for the previous 12 months was $248,704. The average home sold price increased by $5,399 or 2.12%. Data for this study was collected from the Wasatch Front Multiple Listing Service for the past 24 months.Utah Homes

The study found that the average listing price or “for sale price” increased by $9,683. Comparing the average listing price to the sold price results in an average difference of $4,284. Residential property owners tend to expect more for their homes than what they will eventually sell for. Not surprisingly, the average listing price increased by 3.7% compared with only 2.1% for sold properties, meaning that sellers’ expectations are increasing faster than the actual price rate for a sold home. Home buyers can expect to pay around $4,000 less than the seller's asking price for a home. 

The chart below shows current housing trends for residential prices in Utah:




 

Ave Sold Price

Ave Listing Price

Ave Difference Listing Price to Sold Price

Jun 07 - May 08

$254,103

$260,235

$6,131

Jun 06 - May 07

$248,704

$250,552

$1,847

 

 

 

 

Ave Price Increase

$5,399

$9,683

$4,284

Ave Percent Increase

2.1%

3.7%

 -

 

Source: WFRMLS and realestatehomesUtah.com. Information deemed 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

Home Buying Advantage - Winter or Summer? - February, 2008

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

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Utah Real Estate Market Pulse - June, 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


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Utah Real Estate Home Prices - Salt Lake City Home & Condo Prices | Housing Market Prices | Utah Real Estate Market Trends - Salt Lake City Home & Condo Trends | Housing Market Pulse


Equity Realty Website featuring real estate news, resources, trends, statistics and REALTOR services for Utah, including average Utah home prices, days on market, condos sold, homes sold and home market analysis. Featuring Salt Lake City current housing market sales, real estate services, residential property sales, Utah land and property trends and Utah real estate trends.

Key topics this month: Utah home sales, Utah home prices, home price increases, Utah housing market, UT home prices, average Utah home prices, Utah home market, home buyers, home sellers, residential property owners, homes sold, homes owners, real estate market analysis.

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