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Utah Home Market Trends Favor Buyers | Home Sales Trends for Salt Lake County | Salt Lake City Home Sales
Statistics
Average market time, number of homes sold, average sales price,
condos sold, days on market, home price increases.
      
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Utah Home Market
Trends Favor Buyers
December 8, 2007
Year
2007 is in its final chapter and has been an interesting
year for the Utah home market. In a study conducted by
realestatehomesUtah.com on this year’s home sales
through November within counties and cities near Salt
Lake, the figures show a very favorable market for
current home buyers. Home prices continue to go up and
the number of homes listed on the market are increasing.
Rising prices and high inventory means that the value in
a home continues to grow after the purchase and a large
selection of available homes for sale.
Displayed in the chart below, the average market time
for currently active listings ranges from a low of 54
days to a high of 126 days. In this study, home sellers
in Murray should be the happiest, experiencing the least
number of days on the market. Home buyers can expect the
lowest median home price in Davis County and the highest
in Salt Lake County. For the highest median home prices
within a city, buyers can expect an Alpine or Park City
home to be nearly double the price of most other cities.
Highlighted figures in the chart below depict the market
leaders.
Real
Estate Market Trends - December 8, 2007
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Active Market
Listings |
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Single Family
Homes |
Condos |
Ave Market
Time (Days) |
Low Price |
High Price |
Average Price |
Median Price |
|
Salt Lake
County |
6347 |
1104 |
68 |
$
3,500 |
$
8,750,000 |
$
415,187 |
$
309,900 |
|
Cottonwood
Heights |
195 |
23 |
61 |
$
139,900 |
$
4,395,000 |
$
526,734 |
$
395,000 |
|
Daybreak
(Community) |
117 |
8 |
83 |
$
180,900 |
$
695,000 |
$
367,576 |
$
340,470 |
|
Draper |
556 |
79 |
75 |
$
177,900 |
$
5,500,000 |
$
628,407 |
$
489,000 |
|
Holladay |
187 |
56 |
80 |
$
68,900 |
$
6,900,000 |
$
747,050 |
$
496,000 |
|
Murray |
119 |
70 |
54 |
$
104,900 |
$
1,199,000 |
$
295,339 |
$
234,900 |
|
Salt Lake
City |
1571 |
433 |
65 |
$
73,900 |
$
8,750,000 |
$
384,290 |
$
275,000 |
|
Sandy |
679 |
113 |
69 |
$
129,900 |
$
5,399,000 |
$
489,673 |
$
345,000 |
|
South Jordan |
518 |
26 |
74 |
$
180,900 |
$
2,700,000 |
$
474,398 |
$
420,000 |
|
West Valley
City |
462 |
44 |
64 |
$
74,900 |
$
999,999 |
$
222,178 |
$
210,900 |
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|
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Davis County |
2022 |
150 |
72 |
$
87,000 |
$
3,650,000 |
$
349,292 |
$
284,990 |
|
Bountiful |
192 |
50 |
66 |
$
121,900 |
$
3,650,000 |
$
464,183 |
$
309,000 |
|
Clearfield |
114 |
7 |
62 |
$
87,000 |
$
330,000 |
$
196,071 |
$
193,200 |
|
North Salt
Lake |
130 |
44 |
73 |
$
139,990 |
$
1,875,000 |
$
443,178 |
$
299,000 |
|
Woods Cross |
44 |
4 |
76 |
$
169,900 |
$
518,900 |
$
286,137 |
$
270,000 |
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Utah County |
3751 |
624 |
84 |
$
81,900 |
$
12,900,000 |
$
387,677 |
$
294,900 |
|
Alpine |
85 |
1 |
92 |
$
199,999 |
$
12,900,000 |
$
1,088,548 |
$
749,900 |
|
American Fork |
218 |
32 |
101 |
$
127,900 |
$
1,499,500 |
$
325,602 |
$
275,000 |
|
Lehi |
603 |
65 |
81 |
$
139,900 |
$
2,649,000 |
$
389,263 |
$
320,000 |
|
Payson |
113 |
30 |
74 |
$
117,500 |
$
1,500,000 |
$
285,076 |
$
229,450 |
|
Provo |
388 |
195 |
94 |
$
81,900 |
$
4,500,000 |
$
367,179 |
$
229,900 |
|
Saratoga
Springs |
330 |
31 |
73 |
$
144,900 |
$
1,390,000 |
$
366,720 |
$
334,839 |
|
Spanish Fork |
221 |
12 |
80 |
$
113,000 |
$
3,278,761 |
$
311,991 |
$
249,900 |
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Park City |
272 |
410 |
126 |
$
1,250 |
$
23,000,000 |
$
1,060,226 |
$
639,900 |
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Note: the low price for Park City and Salt Lake
County are time shares. |
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Source: WFRMLS and
realestatehomesUtah.com.
Figures are
considered reliable but not guaranteed.
_________________________________________________________________
More Utah Real Estate Market Trend Reports
South Jordan Real Estate Trends - February, 2007
Property That Sells In Salt Lake County - March,
2007
National & Utah Real Estate Trends - April, 2007
Salt Lake and
Utah County Housing Market - May, 2007
Utah
Real Estate Trends for 2007 - June, 2007
Top
Utah Home Builders - June, 2007
Utah Real
Estate Market Sales - July, 2007
South Jordan
Utah Home Market Trends - August, 2007
Ten Year
Real Estate Trends for Salt Lake County - September,
2007
Salt Lake County Real Estate Trends
- October, 2007
Home Sales
Trends in Utah - November, 2007
Utah Home
Market Trends Favor Buyers - December, 2007
Utah Home
Market Statistics for 2007 - January, 2008
Barry J. Preusz
REALTOR®, Residential Specialist
7090 South Union Park Center, Ste 650
Midvale, Utah 84047
Office: (801) 253-6771
Click Here to Contact Us
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Utah Home Market Trends Favor Buyers | Home Sales Trends for Salt Lake County | Salt Lake City Home Sales Statistics | 2007 Real Estate Facts - Figures
Number of homes sold, average sales price, median home
prices, high price, low price, single family homes, condos sold,
average days on market. Year-to-date residential sales and real
estate trends for Salt Lake, Utah, Davis Counties. Properties sold in
the Salt Lake Valley and the resulting trends.
Salt Lake City, Utah Equity Real Estate Realtor Services - buying and selling real estate.
Serving Alpine, Alta, American Fork, Bluffdale, Bountiful, Cedar Hills, Centerville, Cottonwood Heights, Daybreak, Deer Valley, Draper, Eagle Mountain, Emigration Canyon, Farmington, Heber City, Herriman, Highland, Holladay, Kamas, Kearns, Layton, Lehi, Lindon, Magna, Mapleton, Midvale, Midway, Murray, North Ogden, North Salt Lake, Ogden, Orem, Park City, Payson, Pleasant Grove, Provo, Riverton, Salt Lake City, Salt Lake County, Sandy, Saratoga Springs, Snowbird, South Jordan, South Ogden, South Salt Lake, Spanish Fork, Springville, Sundance, Summit County, Taylorsville, Tooele, West Bountiful, West Jordan, West Valley, Woods Cross, Utah County.
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