After several months of increased home sales, Salt Lake County suffered a drop in the number of homes sold in July 2008. There were 968 homes sold in July, down from 1113 in June. While this may seem like bad news, it must be remembered that July is traditionally a slower month, in fact the last time homes sales went up between June and July was back in 2003.
Homes Sold: 968 down 24.49%
Average Sales Price: $287,390 down 4.18%
Days on Market: 67 down 97.06%
Looking at data on a year-by-year basis, the numbers of homes sold were down 24.49%, and the average sales price was down 4.18% to $287,390. Homes are taking a lot longer to sell with the average days on market increasing a massive 97.06%.