Property That Sells In Salt Lake County | Utah Real Estate News & Trends | Salt Lake City Real Estate Current Events
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Property That Sells In Salt Lake County

The market is slower than last year. The first three months of 2007 experienced a total of 3,772 single family homes and condos sold in Salt Lake County according the Wasatch Front Regional Multiple Listing Service (WFRMLS). The same period last year produced 3,960 sales. That translates into 188 fewer properties sold.

Property that sold during the first quarter, spent an average of 40 days on the market. This figure is very close to last year’s 39 average days on market. With and average of only one day difference, the homes that are priced right sell in roughly the same number of days as last year.

The percentage of new listings to homes sold during the first quarter was 63% last year. This year the percentage is only 50%. The price range where properties sell best is $75,000 to $180,000. Within this range an average of 78% of the homes or condos sold. Property selling at prices between $180,000 and $220,000 post a 68% chance of selling while properties between $220,000 and $350,000 maintained a 51% chance of selling. The higher the listing price of the home, the fewer the buyers.

 Source: Wasatch Front Regional MLS, This information is deemed to be reliable, however WFRMLS does not guarantee accuracy.