Salt Lake County Home Sales Summary of 2007

By
Real Estate Agent with Boomerang Leads

 

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 $219,900

The 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 last few years. Interest rates are low. It's a good time to buy in SLC.

Major Salt Lake County Cities 2007 Sales

Bluffdale Houses Sold: 533
Average Price: 459,702
Median Price: 420,000

Cottonwood Heights Houses Sold:214
Average Sold Price: 374,402
Median Sales Price: 315,000

Draper Houses Sold: 511
Average Sold Price: 491,955
Median Sales Price: 417,758

Herriman Houses Sold: 365
Average Sold Price: 348,670
Median Sales Price: 315,750

Holladay Houses Sold: 187
Average Sold Price: 491,331
Median Sales Price: 380,000

Kearns Houses Sold: 249
Average Sold Price: 173,064
Median Sales Price: 166,000

Magna Houses Sold: 496
Average Sold Price: 181,234
Median Sales Price: 174,900

Midvale Houses Sold: 237
Average Sold Price: 230,452
Median Sales Price: 219,950

Murray Houses Sold: 262
Average Sold Price: 272,853
Median Sales Price: 242,000

Riverton Houses Sold: 440
Average Sold Price: 338,192
Median Sales Price: 301,350

SLC Houses Sold: 3,544
Average Sold Price: 294,705
Median Sales Price: 235,000

Sandy Houses Sold: 1,145
Average Sold Price: 369,280
Median Sales Price: 300,000

South Jordan Houses Sold: 544
Average Sold Price: 385,273
Median Sales Price: 354,500

Taylorsville Houses Sold: 468
Average Sold Price: 218,383
Median Sales Price: 204,450

West Jordan Houses Sold: 1,434
Average Sold Price: 252,276
Median Sales Price: 240,900

West Valley City Houses Sold: 1168
Average Sold Price: 206,380
Median Sales Price: 198,000

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