Salt Lake County home prices were a sea of green in the 3rd quarter 2013, with the median price for a single family home rising from $217,900 a year ago to $254,500. The 16.80% median sales price rise was on the back of strong home sales that were up 5.91%. Those homes that sold, were selling really fast, taking just 19 days to sell, that’s nearly 30% faster than the same time last year.
While the vast majority of areas saw their median home price rise, the best performing were Salt Lake City 84102, Holladay 84117 and Murray 84107.
Best Performing Areas
Salt Lake City 84102 up 37.92%
Holladay 84117 up 30.36%
Murray 84107 up 26.25%
Just two zip codes saw a declining median sales price, Sandy 84093 and Draper 84020.
Worst Performing Areas
Sandy 84093 down 3.85%
Draper 84020 down 0.38%
Even with these very impressive increases we did see a slow down towards the end of the quarter, when interest rates spiked and the government shutdown took place. Since then interest rates have come off their highs and government employees have returned to work. We will have to wait and see what impact this will have on the market.
You can visit our website to see a full breakdown by zip code of the Salt Lake County Housing Data.