Real Estate Markets
There were 707 Salt Lake County homes sold in October 2010, which was a decline of 35% compared to the same month in 2009. The average sales price was $245,341, an increase of 2.81% year on year, but a drop of 5.2% compared to last month. Some of the month on month price drop could [...]
Continue reading about October 2010 Salt Lake County Market Summary
While there are early signs of a housing market recovery, in the whole Salt Lake County yet again remained sluggish at best, with home prices continuing to come under pressure. Single Family Housing Stats Third Quarter 2010 Number of Homes Sold : 1902 Median Price : $229,900 Days On Market : 85 Third Quarter 2009 [...]
Continue reading about Salt Lake County 3rd Quarter 2010 Housing Sales
While it may seem like a far-fetched idea (especially if you are trying to sell your home at the moment), an increasing number of economists are predicting a housing shortage in 2011/2012. How you might ask, can we have a shortage of homes given the current sluggish housing market? Well it’s all got to do [...]
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 [...]
Continue reading about August 2010 Salt Lake County Home Sales
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 [...]
Continue reading about March 2010 Salt Lake County Home Prices
While home sales in February did not exactly set the world on fire, there was further evidence that the Salt Lake County housing market is stabilizing. The number of home sales was not great, but was still a 3.84% gain over those seen in Feb 2008. The average time taken to sell a home remained [...]
Continue reading about Feb 2010 Salt Lake County Home Prices
Only one of the 32 zip codes in Salt Lake County experienced single family home price appreciation in 2009. The Holladay zip code of 84117 increased its single family home median home price 3.32%. The fact that Holladay is one Salt Lake’s more desirable areas is no accident. Areas such as this, The Avenues and [...]
Continue reading about 2009 Annual Home Prices for Salt Lake County
Compared to the national average, Utah has fewer homes in negative equity — where someone’s mortgage is more than the current value of their home. At the end of the third quarter 2009 approximately 18% of residential Utah homes were underwater, while the national average was 23%. One of the worst hit areas was in [...]
Just a quick note to let you know that the Utah Governor recently announced they will use $8 million in federal stimulus funds to reintroduce the Home Run Grant. The official statement said that the state will offer $4,000 grants to the first 2,000 new home buyers. The program comes on the heels of one [...]
The real estate industry standard for determining how a market is performing is the median home price or in some places the average home price. You hear it everywhere, median home price falls in first quarter, median home price for Salt Lake City is… But is the median home price a true indicator of how [...]
