Salt Lake Home Prices Hit a 16 Month High in May 2012

The average home price for a Salt Lake County home hit a 16 month high in May 2012. There were 1,225 homes sold, the highest number since May 2010, with an average price per square foot of $96.34, the highest level since October 2010.

Even with these impressive stats, probably the most encouraging one in the average time taken to sell a home, which now stands at 96 days. This means it is taking just over 3 months on average to sell a home. This may seem a long time, but actually it’s the lowest level seen since December 2007. If homes are selling faster this will continue to apply upward pressure on home prices, and provide encouragement for those people thinking of selling their home.

Average Home Price: $231,597
Home Sales: 1,225
Average Price Per Sq. Ft.: $96,34
Average Days on Market: 96

For more information on the latest Salt Lake real estate trends and to find homes for sale on the Salt Lake City MLS then visit our Salt Lake UT Real Estate website.

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