What is happening with Real Estate in Salt Lake City? We have seen the Real Estate Market in Salt Lake City take a tumble during the past couple years. Will Real Estate in Utah and Salt Lake City begin a much needed turn around this year? All indications and predications seem to make us believe that Homes in Salt Lake City will begin to sell at a much higher pace this year. Home prices will not make significant gains because the Bank Owned, Foreclosed and REO properties and listings will continue to play a significant role for owner occupants of single family homes in Salt Lake who must price and place a home for sale in SLC, UT. If you are looking to buy or sell a home in Salt Lake City contact a professional Real Estate Agent or Broker. A good Real Estate Agent will give you the truth about market conditions in Salt Lake City. A experienced Realtor would not want to list your home at a inflated price making the property impossible to sell. I have looked over the statistics on Homes for Sale in Salt Lake City and the one huge stat stands out. LUXURY REAL ESTATE in Salt Lake City has been stagnant. In Salt Lake City last year we had over 3100 homes sold by a Real Estate Agent. Homes that sold in Salt Lake City were for the most part starter homes priced under $300000. 2435 or 78% of all homes sold in Salt Lake City in 2010 were priced under $300,000. Salt Lake City homes priced between $300,000 - $500,000 saw almost 15% or 464 total home sold. LUXURY REAL ESTATE or homes priced above $500,000 and less than $1,000,000 scored almost 6% of the Real Estate Market for total Homes sold. 34 Luxury Homes in Salt Lake City priced above $1,000,000 were sold last year by a Real Estate Agent. This number doesn't look that bad considering we have only 39 active Luxury homes for sale in Salt Lake. If we experience a increase this year in our Luxury Home Market we should be able to maintain a steady inventory of Luxury Homes that enjoy a higher level of activity than that of previous years.
BRETT BUTLER - LINDA SECRIST & ASSOCIATES - Everything We Touch Turns To SOLD!