October Home Sales Up, Prices Down In Salt Lake County

October Salt Lake County home sales were up from 737 in 2010 to 992 in 2011. While this is great news, in the same timeframe median prices decreased from $205,000 to $185,000, a fall of 9.76%. Compared to September 2011 prices actually saw a modest 3.93% increase. The median price per sq, ft. was $83.61 (compared to $83.88 last month and $91.37 last year).

The good news is that prices have remained pretty consistent since Feb 2011, when they hit $183,000. Another positive sign is that the time it takes to sell a home is also on the decline, falling from 82 days in 2010, to just 73 in October 2011. We are also continuing to see increased activity in the Salt Lake County housing market, with November sales looking like they will be considerably stronger than those in 2010.  

Total Sales 992

Median Sales Price $185,000

Median Sq. Ft. 2,129

Median Price Per Sq. Ft. $83

Median Days On Market 73

Home Sales Data for Sep. 2011 for Salt Lake County

Homes sales for Sep 2011 continued to show signs of stableization. The number of  Salt Lake UT Homes sold remaining strong with 971 homes sold, up from the 741 homes sold in Sep 2010. The median home sales price for Salt Lake County (includes all home types) was $177,500.00.

Total Sales 971
Median Sale Price $177,500.00
Median Sq. Ft. 2,102
Median Price Per Sq. Feet $83
Median Days on Market 74