After four straight months where we have seen home sales top the 1,000 mark, they dropped back down to earth with a bump in July. Just like expected, the expiration of the home buyers tax credit resulted in a drop in home sales, with just 693 homes sold, the lowest number since February.
Looking at other data, the average home sales price actually increased to $261,057, which is the highest amount seen since back in January and is even slightly higher than the same time last year. The average size of home sold also increased to 2,702 square feet, which is the largest seen for a very long time. It is at least the largest figure seen since 1995, which is as far as my data goes back.
The price per square ft. dropped below the $100 mark to $97, while the average days on market (time taken to sell a home), increased slightly to 83 days.
Total Sales 693
Average List Price $268,263
Average Sale Price $261,057
Sale Vs List 97%
Average Sq. Ft. 2,702
Price Per Sq. Feet $97
Days on Market 83
You can read this post about Salt Lake County Home Prices and other posts on my real estate blog.