While the number of homes sold increased sharply in the 2nd quarter 2010, prices continued to come under pressure. The number of single family homes sold increased 7.98% to 2746 compared to the same quarter last year, while at the same time the median home price fell 7.13% to $220,000.
The bright spot in the quarter was Salt Lake City, where 84103 up 4.33%, 84104 up 0.52%, 84105 up 5.83%, and 84106 up 3% all experienced price increases. The other zip code to perform well was 84123 Taylorsville / Kearns, which increased 5.40%.
On the other side of the coin, the areas that experienced the largest falls in median home price, were Midvale 84047 down 15.29% and West Valley City 84128 down 11.41%.
Condo prices also came under pressure in the 2nd quarter, with the downtown SLC condo market 84101 continuing to struggle, with only 14 condo units sold in the entire quarter. In total there were 582 condos sold (up 11.28%), while the median home price fell 5.26% to $162,000.
You can view detailed Salt Lake County Median Home Prices by Zip Code on our website.
You can read this post about Salt Lake County Home Prices and other posts on our real estate blog.