August 2010 home sales remained weak in the Salt Lake County area. While the number of Salt Lake County homes sold saw a tick up from July, it was considerably lower than Aug 2009 going from 1031 to just 764. Another concerning sign was the average number of days taken to sell a home, which jumped to 93, the largest number seen since at least 1995 (that’s how far back from report goes).
Looking more closely at the data we can see that the trend for buying larger homes continues with the average sq. ft. at 2,614. The average price per square foot dropped slightly month on month going from $97 to $96.
Looking at the bigger picture there was always going to be a fallout from the home buyers tax credit expiration, we will just have to wait and see if it’s a blip, or more of a long term downturn.
Total Sales 764
Average List Price $260,987
Average Sale Price $252,268
Sale Vs List 97%
Average Sq. Ft. 2,614
Price Per Sq. Feet $96
Days on Market 93
You can read this post about Salt Lake County Home Prices and other posts on my real estate blog.