Is the Median Home Price a Good Indicator of How a Real Estate Market is Performing - 09/19/09 12:43 AM
The real estate industry standard for determining how a market is performing is the median home price or in some places the average home price. You hear it everywhere, median home price falls in first quarter, median home price for Salt Lake City is... But is the median home price a true indicator of how a market is performing, or would we be better off using something else, for instance the price per square ft.
Let's look at a specific example. In June 2007 the Salt Lake County real estate market peaked with a median home price of $234,000, in April … (0 comments)

August 2009 Home Sales for Salt Lake County - 09/19/09 12:34 AM
Home sales for Salt Lake County in August 2009 were flat compared to July. The average home price fell slightly to $255,375 (from $257,186), but the average size also fell to 2,479 square ft, which meant that the average price per square ft. actually rose slightly to $103. The number of homes sold dipped below 1,000 to 976, and the days on market rose to 82.
September is shaping up to be a strong month, with activity being fueled by first time home buyers not wanting to miss out on the soon to be expiring $8000 tax credit.
Total Sales 976Average … (0 comments)