Salt Lake County home sales for February 2009 saw a rebound from January’s disastrous numbers. There were 566 homes sold, which is a 30.11% increase over January 2009 figures, but a 24.83% decline year on year. The average sale price for homes sold was $263,048, which is a drop of 2.07% over the same time last year.
One noticeable statistic is the price per square foot, which has declined from $119 in Feb 2008 to $103 in Feb 2009, which is a drop of 13.45%. Because the average home price is declining at a far slower rate than the price per sq. ft., this implies that people are choosing to buy larger homes, which to some extent may be disguising the true drop in home prices.
Total Sales 566
Average List Price $272,977
Average Sale Price $262,482 (268,024)
Sale Vs List 96%
Average Sq. Ft. 2,563
Price Per Sq. Feet $103
Days on Market 89