Salt Lake Real Estate

September 2007

Over the last few years the Salt Lake City Real Estate market has been very healthy with yearly price increases in the double digits. While the market remains strong compared to much of the rest of the United States, it has started to slow. The recent tightening of loan criteria for people with poor credit and those who are self-employed also continues impacted the market.

At the moment it is the Salt Lake City Real Estate mid to high price range properties that are taking longer to sell, and in some cases we are starting to see motivated sellers reduce listing prices. Homes under the $200,000 price and still selling very quickly and in some cases receiving multiple offers.

Month	Count	Days On Market	List $	Sale $	$ Per Sq. Ft.
Jan 2006	1080	44	$221,727	$219,953	$98
Feb 2006	1201	40	$231,812	$229,677	$102
Mar 2006	1681	37	$227,724	$226,097	$103
Apr 2006	1496	33	$233,898	$232,852	$105
May 2006	1817	29	$247,306	$245,733	$109
June 2006	1931	28	$256,402	$254,807	$113
July 2006	1642	26	$260,909	$259,427	$113
Aug 2006	1775	27	$268,747	$265,728	$117
Sep 2006	1570	29	$266,271	$263,530	$116
Oct 2006	1561	30	$269,245	$265,690	$119
Nov 2006	1434	32	$266,230	$262,942	$116
Dec 2006	1253	39	$273,893	$270,346	$119
Jan 2007	1144	41	$259,103	$255,985	$117
Feb 2007	1145	42	$271,377	$267,930	$120
Mar 2007	1520	39	$286,254	$282,042	$125
Apr 2007	1390	34	$269,795	$266,890	$124
May 2007	1568	33	$277,804	$274,290	$126
June 2007	1446	32	$297,549	$292,514	$130
July 2007	1264	34	$291,466	$286,187	$129
Aug 2007	1284	36	$296,653	$290,528	$130

You can see from the above data that Salt Lake City Homes sales are down substantially from the levels seen last year. For example, in Aug 2007 1284 homes were sold while back in Aug 2006 1775 homes were sold.

If you are in the market for a home then you can search the Salt Lake City MLS to find homes for sale in the Salt Lake Valley.


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