Median Price Per Sq. Ft. Hits Highest Level Since November 2009

In March 2013 the median Salt Lake Home price per sq. ft. hit the highest level since November 2009. The median price per sq. ft. stood at $97.83, a substantial gain of 17.36% over the last year. A combination of strong demand among buyers and a shortage of Salt Lake Utah homes for sale meant that any homes listed on the market were in strong demand, often resulting in a quick sale and in the lower price ranges multiple offers. This market will continue to perform well while ever the inventory level remains constrained. The advent of spring should introduce more homes to the market, but along with this it is also expected to introduce more buyers. The data so far for April appears to continue the upward trend, with homes continuing to sell faster for more money. Of course there can be no guarantee that the recovery will continue but all the indicators are looking positive at the moment.

Median Home Price: $209,270
Homes Sold: 1,099
Median Price Per Square Ft: $97.83
Median Days on Market: 32 days

This article was written by Trela Bird Realtor.

November Salt Lake County Home Sales Increase

Salt Lake County saw its home sales increase from 751 in November 2010 to 864 in November 2011. While there were more Salt Lake UT Condos and Homes sold in Nov, median home prices continued to come under pressure, dropping from $200,000 to $179,900 over the last 12 months.

On the bright side the number of days it takes to sell a home continues to fall, and has fallen from 95 to 70 days in the last year.

Total Sales 864

Median Sales Price $179,900

Median Sq. Ft. 2,1284

Median Price Per Sq. Ft. $82

Median Days On Market 70

Market Update for July 2011

The Salt Lake Real Estate market remained bumping along the bottom in July 2011, and indeed there were some signs that maybe we are starting to see some small signs of recovery. The amount of Salt Lake houses and condos sold saw a large increase, jumping over 30% year on year. But while these numbers appear good, home prices continued to struggle, dropping 14%. The July 2011 Salt Lake average homes sale price was just over $223,000.