Salt Lake Median Home Price Tops $200,000

The Salt Lake housing market continued its strong performance in August 2012, with the median home price rising above the $200,000 mark for the first time in 2 years. The median home price stood at $205,000, a rise of nearly 10% year on year.   

Total Sales 1,337

Median Sales Price $205,000

Median Sq. Ft. 2,109

Median Price Per Sq. Ft. $93.18

Median Days On Market 39

Strong home sales of 1,337 homes sold meant that Salt Lake UT Homes were in high demand, and coupled with a limited home listing inventory, prices continued to come under upward pressure. If homes are priced right they are selling fast, with the median days on market being 39 days. We are also seeing keen competition among buyers for some homes, and have seen multiple offer situations in several offers that we submitted in August and September.

Strong Salt Lake Home Sales in July 2012

Another strong month for Salt Lake Home Sales saw home prices on the rise again in July 2012. The median Salt Lake County home price for July stood at $193,000, up from $189,700 the previous year. There were a total of 1,203 homes sold, up from 1,036, with a median price per square foot of $90.76 up from $86.55. The biggest improvement and a really good sign of an improving housing market was the median days on market, which saw a dramatic drop from 70 days to 32 days. This shows that homes were selling more than twice as fast as a year ago.

Total Sales 1,203
Median Sales Price $193,000
Median Sq. Ft. 2,109
Median Price Per Sq. Ft. $90.76
Median Days On Market 32

Visit our website for more info on Salt Lake Condos & Homes

April Home Prices Up Again in Salt Lake County

Salt Lake County continued its good run of recent housing data in April 2012. The median home price for a home increased over 4% to stand at $195,000, the third month in a row we have seen a rise. There 1,104 homes sold (includes all types of home), with a median price per square foot of $87.67 (up for 5 months in a row).

So what is happening to the Salt Lake housing market? Well the fact is there is very little inventory, especially when you take out the bank owned and short sale properties. Buyers are coming back into the market and finding that the if they want a home in good condition in a sort after area they are competing with other buyers, with some homes selling in just a few days.

Total Sales 1104
Median Sales Price $195,000
Median Sq. Ft. 2,115
Median Price Per Sq. Ft. $87.67
Median Days On Market 58

Strong Salt Lake County Home Sale for February 2012

Home sales in Salt Lake County saw a sharp rise in Feb. 2012, increasing over 26% to 818 homes sold. The median home price for the month was $176,250, a slight rise from last months $174,000. Homes are also selling faster, especially in the more popular areas like the 9^th and 9^th area of Salt Lake City. The median number of days it took to sell a home was 74 days, dramatically down from the 111 days it took this time last year.  

These figures are very encouraging, and point to the start of a recovery in the real estate market. If they continue in this manner then it will only be a matter of time before home prices start to turn around and produce gains rather than loses.  

Total Sales 818
Median Sales Price $174,000
Median Sq. Ft. 2,122
Median Price Per Sq. Ft. $82
Median Days On Market 75