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

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.

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.

There was some encouraging Salt Lake County home sales data for July 2011, with the number of homes sold rising over 34% year on year, increasing from 744 to 1,002.

While the number of Salt Lake UT Homes sold was up, home prices over the last year were down 14% with the average sales price for a home being $223,942. Month on month the average price per square ft. ticked up to $92 per square ft.

The average amount of time taken to sell a home was 86 days, which while higher than last month, is down from the peak of 98 days seen earlier this year.

Looking forward, August 2011 sales are also looking good, with sales set to be somewhat higher than those seen last year.

Total Sales 1,002
Average List Price $231,235
Average Sale Price $223,942
Sale Vs List 97%
Average Sq. Ft. 2,432
Price Per Sq. Feet $92
Days on Market 86

You can read this post about Salt Lake County July 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.

Homes prices for Salt Lake County actually increased for the second month in a row. The median home price for April 2011 was $219,720 a small increase of 0.7%, and maybe a sign that prices have at least stabilized. Year on year prices fell 6.56%. There were 914 homes sold with an average size of 2,455 square ft. The average price per square foot increased from $89 to $90. Average number of days it took to sell a home decreased from 92 to 88.

All in all this is the best data I have seen for some time, with most of the indicators going in the right direction. Hopefully this is a sign of something positive rather than just a blip.

Total Sales 2455
Average List Price $226,643
Average Sale Price $219,720
Sale Vs List 97%
Average Sq. Ft. 2,455
Price Per Sq. Feet $90
Days on Market 88

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

While the number of homes sold increased 10.99% from Jan to Feb, home prices continue to struggle in the Salt Lake County housing market. The average sales price dropped from $243,717 to $214,125 over the last 12 months, and the average price per square foot dropped below $90 for the first time since April 2005. The average days on market (number of days it takes to sell a Salt Lake County home) stayed steady at 96.

Total Sales 626
Average List Price $220,927
Average Sale Price $214,125
Sale Vs List 97%
Average Sq. Ft. 2,426
Price Per Sq. Feet $88
Days on Market 96

You can read this post about Salt Lake County Housing Market Stats and other posts on my real estate blog.

The 2010 median home price for a single family home in Salt Lake County declined 5.91% to $220,000. While most areas declined in value, a few of the areas, especially those in the more expensive neighborhoods actually saw their median home prices increase. The zip code that performed the best was 84020 (Draper), which returned an increase of 6.17%. In total just three zip codes had their median price increase:

84020 Draper Up 5.91% $370,000
84124 Holladay Up 5.18% $325,000
84109 Salt Lake City Up 0.35% $285,000

While it seems the more expensive areas saw the best performance, the worst performing zip codes were in some of the less expensive areas of the Salt Lake Valley.

84111 Salt Lake City down 19.28% $145,500
84118 Taylorsville Kearns down 13.41% $149,900
84044 Magna down 13.40% $136,200

You can see detailed 2010 Salt Lake County median home price information for all zip codes in Salt Lake County on my Best Salt Lake Homes website.

You can read this post about 2010 Salt Lake County Home Prices and other posts on my real estate blog.