OctoberSalt Lake County home sales were up from 737 in 2010 to 992 in 2011. While this is great news, in the same timeframe median prices decreased from $205,000 to $185,000, a fall of 9.76%. Compared to September 2011 prices actually saw a modest 3.93% increase. The median price per sq, ft. was $83.61 (compared to $83.88 last month and $91.37 last year).
The good news is that prices have remained pretty consistent since Feb 2011, when they hit $183,000. Another positive sign is that the time it takes to sell a home is also on the decline, falling from 82 days in 2010, to just 73 in October 2011. We are also continuing to see increased activity in the Salt Lake County housing market, with November sales looking like they will be considerably stronger than those in 2010.
Total Sales 992
Median Sale Price $185,000
Median Sq. Ft. 2,129
Median Price Per Sq. Feet $83
Days on Market 73
The original article can be found on my Salt Lake Home Prices blog.