Salt Lake City Market Update:
The Salt Lake Board of REALTORS® announced that 1,934 existing single-family homes were sold in Salt Lake County in the fourth quarter of 2010, down 21 percent compared to 2,450 sales in the fourth quarter 2009.
“It’s no surprise that home sales were down compared to last year,” said DeAnna Dipo, President of the Salt Lake Board of REALTORS®. “Last year at this time the $8,000 federal tax credit created a surge in home sales. However, the most recent fourth quarter sales numbers are up 12 percent compared to home sales in the fourth quarter of 2008 - when the Great Recession was at its strongest point. This indicates the worst of Salt Lake’s housing downturn is over.”
Although single-family home prices in Salt Lake County were down 4 percent in the fourth quarter, there were a number of cities that saw house price gains. They included: Draper (84020) up 7 percent; West Jordan (84081) up 6 percent; Sandy (84092) up 12 percent; Herriman (84096) up 10 percent; Salt Lake City (84103) up 18 percent; Murray (84107) up 7 percent.