Utah Real Estate Trends - Salt Lake County Homes For Sale Statistics for First Half of 2010

Salt Lake County homes are selling for $16,000 more on average than in the rest of the state. The average sold price for a Salt Lake home was $257,572. Current homes listed on the market constitute a 9 month inventory, about a month-and-a-half less than the state average. A Salt Lake home that sold during the first half of the year averaged $103.45 per square foot. It is taking just over two months to sell a home that is priced with the market.

Salt Lake condominiums are selling for nearly $30,000 less than the state average. Condo prices average $173,000 and offer buyers a significant savings compared with a single family homes. Condo buyers can expect to save an average of $85,000 on their purchase when choosing a condominium over a single family home. Salt Lake home owners need an average of 35 more days to sell a condo than for single family home.

Conclusion:  Low interest rates, great inventory and low prices currently favors buyers. Sales activity is likely to drop moderately with the cessation of the government tax incentives. The recent upward movement in employment and economic figures could improve home sales if the trend continues.

Salt Lake Homes For Sale Statistics for First Half of 2010