Month on month average sales prices for Salt Lake County real estate ticked up in December 2011. The average sale price was $220,708, up from $216,413 in November. Compared to Dec. 2011 prices declined 4.25%. The number homes sold hit a 4 year high for December, with 897 homes sold.

Total Sales 849
Average Sale Price $220,708
Average Sq. Ft. 2,492
Price Per Sq. Feet $88
Days on Market 129

The average sales price for a home in Salt Lake County was $216,163 in November 2011. This was a drop of 0.26% compared to last month and 10.84% compared to November 2010. Despite November being a seasonally slow time of year, there were 849 homes sold, an increase of 13.05% from last year. The average price per square foot fell to $87.81.

While we are seeing stronger Salt Lake home sales, year on year prices are still dropping, even if at a lower rate than declines seen over the past few years. In fact since Feb this year, prices have remained around the same level, which continue to provide some reassurances that we may have seen the worst of the housing market.

Total Sales 849
Average Sale Price $216,163
Average Sq. Ft. 2,438
Price Per Sq. Feet $88
Days on Market 121

Salt Lake County home sales rose sharply in October 2011, with 971 homes sold compared to 737 in October 2010. While the number of sales was well up, the average sale price continued to struggle, dropping from $243,588.63 to $216,563.16 in the last 12 months. Homes were selling faster; the number of days it took to sell a home continued its downward trend falling to 116 days, the best level seen since May 2010.

With Salt Lake home sales up, and prices over the last several months appearing to stabilize, there are some signs we are starting to see the bottom on the market. Having said that only time will tell if this is the bottom, or just a pause on the way down.

Total Sales 971
Average Sale Price $216,563.16
Average Sq. Ft. 2,411
Price Per Sq. Feet $89
Days on Market 116

A recent article in the Builder Magazine predicts a bright 2012 for the Salt Lake City Housing Market. They teamed up with Hanley Wood Market Intelligence to produce their list of healthiest housing markets in the United States. The list was compiled using various criteria including the local employment market, population growth, and income growth. The resulting list saw Salt Lake coming in at the 3rd healthiest housing market in the country, with a projected 4.7 percent price increase in 2012.

This data backs up what we have recently been seeing in the housing market, with this years home prices stabilizing, the rental market tightening and the number of home sales greatly increasing. We are certainly busier than we have been for a while, only time will tell if this translates into home price appreciation in 2012.

September 2011 was another decent month for Salt Lake Utah Home Sales. While the number of homes sold dipped below the 1,000 mark, the 971 homes sold was still nearly 25% more than the same time last year. The average sales price was $223,043, down 14% from last year, but up from the $219,678 seen last month. The average time taken to sell a home was 118 days, which is an improvement from the 123 days seen last year.

Total Sales 971
Average Sale Price $223,043.90
Average Sq. Ft. 2,442
Price Per Sq. Feet $91
Days on Market 118

There were some good pointers in the latest Salt Lake County housing sales data for August 2011. First of all the number of homes sold topped the 1000 mark for the forth month in a row. There were 1,086 homes sold, that’s an increase of 38.52% from Aug 2010, and an increase of 7.12% from last month. The other positive data was the Average Days on Market (amount of time it takes to sell a home), which dropped to 81, the lowest level seen since Mar 2010.

Helping to boost home sales this summer was a rebound in Utah’s job market, which over the past 12 months has added 30,000 new jobs, a nearly 3 percent increase, according to the Utah Department of Workforce Services.

More jobs means more people able / wanting to buy a home.

Total Sales 1,086
Average List Price $226,218
Average Sale Price $219,684
Sale Vs List 97%
Average Sq. Ft. 2,479
Price Per Sq. Feet $89
Days on Market 81

You can read this post about Salt Lake County August 2011 Housing Sales and other posts on my real estate blog.

Salt Lake Homes sales data for Salt Lake County showed some of the most positive signs of recovery we have seen for some years now.

While year on year prices for Single Family Homes and Condos declined from $208,000 to $189,900, compared to the last quarter prices actually seemed to stabilize, and even showed a slight increase going from $187,000 to $189,900. The number of homes sold was the best we have seen for a full year and the average time taken to sell a property (84 days) also dropped to the lowest level for a year.

Time will tell if this is truly a bottom, or just a breather on the way down.

2nd Quarter 2011
Median Home Price: $189,900
Homes Sold: 3034
Avg. Days on Market: 84

1st Quarter 2011
Median Home Price: $187,000
Homes Sold: 2168
Avg. Days on Market: 95

4th Quarter 2010
Median Home Price: $200,000
Homes Sold: 2324
Avg. Days on Market: 90

3rd Quarter 2010
Median Home Price: $219,925
Homes Sold: 2245
Avg. Days on Market: 88

2nd Quarter 2010
Median Home Price: $208,000
Homes Sold: 3500
Avg. Days on Market: 82

You can read this Salt Lake Homes Sales Data for the Second Quarter 2011 post on my real estate blog.

Salt Lake was recently named 7th in the top 10 markets for real estate investors. The top 10 cities were:

1. Indianapolis-Carmel, Ind.
2. Winchester, Va.-W.Va.
3. Gainesville, Fla.
4. Tucson, Ariz.
5. Tallahassee, Fla.
6. Hagerstown-Martinsburg, Md.-W.Va.
7. Salt Lake City, Ut
8. Richmond, Va.;
9. Gainesville, Ga.
10. Winston-Salem, N.C.

The study by Inman News took into many criteria, including economic, housing and demographic data. The analysis considered markets with high affordability, low and dropping prices, a high market share of foreclosure sales, high population growth, an improving unemployment rate that is close to or better than the national average, high projected return on investment (ROI) over the next decade, and a low total cost of ownership-to-rent ratio.

The Salt Lake City Real Estate Market was positioned high on the list due to its low unemployment rate and high population growth.

Most of the 10 top markets were in the South and West of the country, which is what you would expect given that they were hit the hardest during the downturn.

One interesting fact mentioned in this study was that investors seemed to be more confident about the housing market than homebuyers, with 77% of investors saying it was a good time to buy, compared to 68% of homebuyers.

You can read this Salt Lake City 7th Best Market for Real Estate Investors post on my real estate blog.

With the recent economic downturn there’s been a lot of fear and concern regarding the housing market. Well, I’m here to tell you real estate in Logan Utah is weathering the storm quite nicely. Like many markets in Utah, home sales have declined in Logan, but considerably less than most other Utah markets. With a reasonable unemployment rate, many of Logan’s residents have been able to afford their mortgages to maintain a semi-healthy real estate market.

The best sign that Logan’s market is weathering the storm is the amount of foreclosures. Currently there are only twelve Logan Utah foreclosures on the market out of a total of 269 properties. With a ratio like that, the distressed properties that are pushing home values down in other markets aren’t having the same affect here in Logan. The best thing we can hope for is to maintain a small amount of distressed homes, and that includes short sales.

Short sales have a higher market share than foreclosures in Logan, yet I still feel they are at a healthy level. There are currently eighteen Logan Utah short sales on the market making a total of thirty properties where homeowners lost their home to foreclosure are facing a short sale situation. At any given time, the distressed property market makes up only 11-13% of the market share.

As a home buyer this means your home is going to hold value long term. Distressed properties suppress values due to banks selling them for less than what a normal home owner would. Knowing that Logan is one of the few markets in the entire nation with such a low distressed property rate, you should have confidence in your home purchase. The only problem home buyers should face in our market is choosing where to live.

There are some great areas to live in Logan from The Island just below Utah State University where you can find cheaper homes within just a few minutes drive to the university, to Cliffside with some of Logan’s most expensive housing options. If you want luxury, the Quail Bluff neighborhood provides some of Logan’s most exclusive properties within a gated community.

Nature provides a beauty that humans can’t, and Logan is full of spectacular mountain views, unrivaled hiking and biking trails in the famous Logan Canyon, and the starting point for a most enjoyable adventure for bikers called The Lotoja. The views of Logan’s mountian ranges are absolutely stunning and can be seen from anywhere in the valley.

If you’re worried about housing prices don’t be, with a median house value under $170,000 home prices are quite affordable. There are many options for any home buyer from the the smaller first time homes just west of downtown that are all priced under $160,000 with many even being under the $100k mark. To the many condo and townhome developments such as the luxury townhomes in Lexington Village to the small first time home buyer condos at Blackhawk.

If you’re looking for a place that provides affordable housing, a safe community, and world class outdoor activities Logan, Utah is a great choice. We have great snow in the winter for skiing at Beaver Mountain and endless fun filled days in the summer swimming at first dam. If you don’t enjoy getting wet or skiing, you’ll love the many restaurants Logan has to offer including the best Italian restaurant in Northern, Utah at Le Nonne’s.

This article was provided by Lisa Udy principal broker of Platinum Real Estate Group in Logan, Utah. If you’re looking for Logan Utah homes for sale please visit Lisa’s real estate website at www.LisaUdy.com.

The number of foreclosed homes being bought and sold in Utah is falling significantly, a new RealtyTrac report indicated.

In Utah, foreclosed homes accounted for just over 20 percent homes sold during the third quarter, with the avarage sales prices of properties that sold while in some stage of foreclosure was 3 percent below the average home sales price. This compares to 25% of homes at a national level, sold at a 32% discounted price.

The relativly low discounted price of foreclosed homes is a sign of the stabilizing Utah housing market.

The number of Utah homes in some stage of forcloser fell 30% from the previous quarter and 21% from the same time last year.

At the end of this year’s third quarter, the percent of Utah loans that had been foreclosed (bank-owned) fell to 3.23 percent, down from 3.35 percent in the second quarter.

Foreclosures had been climbing in Utah for the past three years — since the third quarter of 2007 when the rate was at 0.66 percent. Utah’s foreclosure rate peaked in the first quarter of 2010 at 3.43 percent, according to the MBA report. Since then, Utah’s foreclosure rate has steadily fallen over the past two quarters.

You can read this post about Utah Home Foreclosures and other posts on my real estate blog.