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.

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 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.

November 2010 saw a total of 727 homes sold in Salt Lake County. This was a slight increase of 0.41% over the previous month but a large drop of 35.09% compared to the previous year. On the bright side the average sales price saw a modest increase of 4.18% to $242,628 compared to November 2009. One discouraging stat was the decline of the average price per square foot, which dropped to $94, the lowest seen since August 2005.

Total Sales 727
Average List Price $249,814
Average Sale Price $242,628
Sale Vs List 97%
Average Sq. Ft. 2,577
Price Per Sq. Feet $94
Days on Market 90

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

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 jumped to 93, the largest number seen since at least 1995 (that’s how far back from report goes).

Looking more closely at the data we can see that the trend for buying larger homes continues with the average sq. ft. at 2,614. The average price per square foot dropped slightly month on month going from $97 to $96.

Looking at the bigger picture there was always going to be a fallout from the home buyers tax credit expiration, we will just have to wait and see if it’s a blip, or more of a long term downturn.

Total Sales 764
Average List Price $260,987
Average Sale Price $252,268
Sale Vs List 97%
Average Sq. Ft. 2,614
Price Per Sq. Feet $96
Days on Market 93

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

After four straight months where we have seen home sales top the 1,000 mark, they dropped back down to earth with a bump in July. Just like expected, the expiration of the home buyers tax credit resulted in a drop in home sales, with just 693 homes sold, the lowest number since February.

Looking at other data, the average home sales price actually increased to $261,057, which is the highest amount seen since back in January and is even slightly higher than the same time last year. The average size of home sold also increased to 2,702 square feet, which is the largest seen for a very long time. It is at least the largest figure seen since 1995, which is as far as my data goes back.

The price per square ft. dropped below the $100 mark to $97, while the average days on market (time taken to sell a home), increased slightly to 83 days.

Total Sales 693
Average List Price $268,263
Average Sale Price $261,057
Sale Vs List 97%
Average Sq. Ft. 2,702
Price Per Sq. Feet $97
Days on Market 83

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

While the number of homes sold increased sharply in the 2nd quarter 2010, prices continued to come under pressure. The number of single family homes sold increased 7.98% to 2746 compared to the same quarter last year, while at the same time the median home price fell 7.13% to $220,000.

The bright spot in the quarter was Salt Lake City, where 84103 up 4.33%, 84104 up 0.52%, 84105 up 5.83%, and 84106 up 3% all experienced price increases. The other zip code to perform well was 84123 Taylorsville / Kearns, which increased 5.40%.

On the other side of the coin, the areas that experienced the largest falls in median home price, were Midvale 84047 down 15.29% and West Valley City 84128 down 11.41%.

Condo prices also came under pressure in the 2nd quarter, with the downtown SLC condo market 84101 continuing to struggle, with only 14 condo units sold in the entire quarter. In total there were 582 condos sold (up 11.28%), while the median home price fell 5.26% to $162,000.

You can view detailed Salt Lake County Median Home Prices by Zip Code on our website.

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