Average Home Sales For Salt Lake County
November 14th, 2007 Categories: Real Estate News
This graph tells some good things, the number of listings, number of sales and the average home sales for Salt Lake County by quarters.
Number of listings shown by the green line has maintained a pretty consistent with seasonal ups and downs, till 3rd quarter of ’06, then the inventory started to climb to an all time high.
Total number of sales shown by the red line has stayed pretty consistent also with it’s seasonal ups and downs.
The Price of the Average Home Sales For Salt Lake County have consistently rose since the 3rd quarter of ’03 with two minor drops, one for a $100 dollars and another time dropped $500 dollars.
Remember when you want real estate information seek out a real estate professional, someone that has been in the business for a complete cycle.
Average Home Sales per Quarter
Salt Lake County
Last Updated: October 20 2007 02:09:13
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What a great visual – I’m assuming there has been a lot of non-real estate job growth in the area around Salt Lake. Is that true? I’m just wondering when this ascent will end. Your home values sound affordable, but it all depends on incomes and rates. With rates on a very gradual increase, this trend gives me deja vu to 2005. Do Salt Lake folks see this as being sustainable?
Hi Alex,
As for employment, we are at 3% unemployment, which according to the economist that is considered full employment.
We typically are behind the national trend in real estate.
We have pockets of speculation that was over built and it is in the higher price ranges.
The under $300k is our staple.
Based on the demographics a little over 59% of the population is 34 years old and YOUNGER. So we have an endless supply of first time home buyers.
There will be some corrections in the higher than $300k properties. Which will entice some of the $300k and under to sell because, they can get bargains in an upgrade.
I think the ascent has already reached its peak and the number will come down, but that will be the higher price homes coming down and lowering the average. However the lower end will not come down, maybe small pockets, but I doubt it.