March was a little bit of a mixed bag when it comes to Salt Lake County home sales. On the bright side the month on month days on market (average time taken to sell a home) decreased from 87 to 80, number of homes sold increased 30.09% year on year and over 51% month on month. On the down side the average home price continued to fall, declining 9.37% year on year, and the price per square ft. fell to $98.
Looking forward, given current market activity, we should see a nice increase in home sales over the next few months as people rush to claim their home buyer’s tax credit.
Total Sales 964
Average List Price $240,561
Average Sale Price $233,322
Sale Vs List 97%
Average Sq. Ft. 2,474
Price Per Sq. Feet $98
Days on Market 80
You can read this post about Salt Lake County Home Prices and other posts on our real estate blog.
It will be really interesting to see how the market will do now the tax incentives for buyers have been removed. I guess we will just have to wait a couple of months to see what happens.