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
