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Salt Lake County Home Sales Summary of 2007
 
There were approximately 11,500 homes sold in Salt Lake County in 2007. The average price of single family homes sold was $296,156 and the median sales price was $249,900. Homes listed on the market were on for an average of 37 days. There were also 2,763 condo's sold. The average sales price was $192,057 and the median sales price was $171,400. The numbers of actual homes sold was down 22%, but average sales price was up 9%. In '06 there were 15,180 homes and 3,272 condos sold. The average sold price was $269,692 for single family homes and $163,213 for condos.As of Jan 2nd, there are 5,680 Single Family Homes listed on the MLS in Salt Lake County. The average price of these homes is $443,961, and a median sales price of $329,900.There are also 1,054 condominiums listed with an average asking price of $261,193 and a median price of $219,900The price of homes on the market now is substantially more than the average of homes sold. Either listing prices must come down, or else Salt Lake prices will continue to go up. Both will likely happen in 2008. There's a lot more inventory than there has been any time the ... more

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