The Salt Lake housing market remained depressed in the first quarter 2011. The Salt Lake County home prices dropped 9.66% over the last 12 months, with the new median sales price for all types of home being $187,000.

Salt Lake County Single Family Home Sales

First Quarter 2011
Median Home Price: $200,000
Average Home Price: $234,338
Average Days on Market: 91
Homes Sold: 1787

First Quarter 2010
Median Home Price: $218,500
Average Home Price: $260,761
Average Days on Market: 81
Homes Sold: 1800

Salt Lake County Condo Sales

First Quarter 2011
Median Home Price: $150,000
Average Home Price: $162,225
Average Days on Market: 112
Homes Sold: 355

First Quarter 2010
Median Home Price: $164,000
Average Home Price: $179,914
Average Days on Market: 95
Homes Sold: 378

Utah County Single Family Home Sales

First Quarter 2011
Median Home Price: $192,000
Average Home Price: $220,385
Average Days on Market: 109
Homes Sold: 908

First Quarter 2010
Median Home Price: $215,750
Average Home Price: $249,562
Average Days on Market: 102
Homes Sold: 844

Utah County Condo Sales

First Quarter 2011
Median Home Price: $134,000
Average Home Price: $141,635
Average Days on Market: 122
Homes Sold: 172

First Quarter 2010
Median Home Price: $145,900
Average Home Price: $152,458
Average Days on Market: 87
Homes Sold: 198

Davis County Single Family Home Sales

First Quarter 2011
Median Home Price: $195,000
Average Home Price: $213,393
Average Days on Market: 91
Homes Sold: 506

First Quarter 2010
Median Home Price: $210,000
Average Home Price: $236,286
Average Days on Market: 83
Homes Sold: 575

Davis County Condo Sales

First Quarter 2011
Median Home Price: $150,750
Average Home Price: $152,670
Average Days on Market: 119
Homes Sold: 59

First Quarter 2010
Median Home Price: $165,250
Average Home Price: $164,502
Average Days on Market: 85
Homes Sold: 83

You can see detailed Salt Lake County median home price information for all zip codes in Salt Lake County on my Best Salt Lake Homes website. You can also view information about Davis County Home Prices and Utah County Home Prices.

You can read this post about 2011 First Quarter Salt Lake Home Prices and other posts 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.

Home prices in Salt Lake County, Utah County, Tooele County and Davis County struggled in the third quarter 2008. The depressed real estate market continued to struggle under the weight of an ailing U.S. economy and tighter lending requirements.

Single-family Salt Lake County home prices declined 3.75% in the third quarter, with the median home price falling to $243,500. The number of homes sold dropped 11.17%, with 2472 homes being sold. Condominium prices were slightly better, but still experienced a fall of 1.16%. The number of condos sold also dropped, falling 12.75% to 643.

Utah County saw the largest fall of all four counties, with the single-family median home price falling 6.12% to $230,000, and the number of homes sold falling 4.66% to 1044. The Utah County condominium market also experienced declines, with the median home price for a condo falling 5.95% to $157,069. The number of condos sold saw a large drop of 35.34%, to 236.

Home prices in Davis County fell 4.34%, with the new median home price for a single-family home now being $220,000. The number of homes sold fell by 16.65% with 811 homes sold. The condo median home price mostly remained unchanged, with only a slight decline of 0.71%. The number of condos sold actually increased by 1.1% to 92.

Tooele County was the odd man out, with the median home price for both single-family homes and condos increasing, 1.08% and 2.19% respectively.

Home sales data for the second quarter 2008 is now available. The median single-family Salt Lake County home price was $249,000, which when compared to the same quarter in 2007 ($255,000) is a 2.41% drop. Condominium prices also saw a small drop in price going from $173,950 to $172,600. The prices are coming under pressure because of the increased inventory that is being created by fewer homes being sold, in fact the numbers of single family homes sold declined 27.83% to 2587 homes. There is some good news for Salt Lake County, the number of homes sold has now increased for four straight months, which maybe a sign that at least as far as the number of homes sold the market has seen the bottom.

The Salt Lake County housing market seems to be seems to be split into three, under $250,000 is moving well, $250,000 to $500,000 is slow, and over $500,000 is really slow.

Utah County and Davis County home prices also came under pressure with the single-family median home price going from $246,000 to $235,000 and $230,000 to $227,000 respectively.

I have updated our Salt Lake new homes map to incorporate the latest developments and pricing information. This interactive map uses Google Maps functionality to show the location and prices for the major new home builders and developments in Salt Lake County, Davis County, and Utah County. New home prices across the Salt Lake Valley are coming under pressure from the slowdown in the local housing market. Very few builders/developments have increased their prices, with most builders keeping their prices the same or lowering them slightly. Ivory Homes seems to have cut their prices the most, with the majority of developments showing substantial price declines.

The median annual home price information for 2007 is now available at Salt Lake County Home Prices , Utah County Home Prices , and Davis County Home Prices. Home prices went up in the vast majority of zip codes in all 3 counties, but not at the same pace as 2006.

The 2nd quarter 2007 home prices are now available for Salt Lake County, Utah County and Davis County. On the surface everything looks OK with the vast majority of zip codes seeing their home prices showing double digit increases compared to prices in the 2nd quarter 2006.

That is until the look at the underlying data. Take the number of homes sold, in June 2007 1,366 homes were sold in Salt Lake County while June 2006 saw 1,931 sales. That’s a drop of nearly 30%.  In Utah County things are the same with 532 home sales in 2007 and 726 in 2006 (a fall of nearly 27%).

OK so maybe fewer people are listing their home and that’s why we have fewer sales? Not so there are actually more homes being listed, in Utah County for June 2007 523 homes were listed for sale and in June 2006 403. For Salt Lake County there were 1041 new listings in June 2007 and in June 2006 881.

So what does this mean? It means we are in a transitional market, going from a very strong sellers market to more of a buyers market. Homes are sitting on the market longer, inventory is increasing and sellers are having to drop their asking price.

The latest home price information for Salt Lake County, Utah County and Davis County are now available. Many areas are still seeing double digit growth, especially those areas that were less expensive. The more expensive areas days on market do seem to be increases but all in all it is still a great market. More detailed information can be seen here: http://www.greatsaltlakecityrealestate.com/Homeprices/home-prices.html