How much have home prices dropped in Salt Lake City?

Salt Lake County Sales Graph

Salt Lake County Sales Graph

One of my clients asked me this question yesterday and it is a very good question.  From the Salt Lake Board of Realtors, the average sales price for the 3rd quarter of 2009 was $251,500.  At its peak (3rd Quarter of 2007), the average sales price was $281,300.  That is a 12% reduction in sales price.   But this is very misleading because on the high end priced homes ($500,000 +) they have dropped anywhere from 20 to 30%.  Love to get your comments on this.

PRICE REDUCED $14,500!! Beautiful updates!

J4TR4M_still_fcpx$105,000

Type: Condo/Townhome

Bedrooms: 2

Bathrooms: 1 Full

 Square Feet: 850

 This amazing condo is updated to absolute perfection! New carpet, new paint, new tile & new bathroom updates. Lots of windows & tons of natural light show off this great unit! Good size rooms. Large open kitchen with fridge, washer and dryer are also included. This is a 2nd floor corner unit with great views of Timp. Pool & jacuzzi in complex. Call Scott today to see this incredible unit! 801-209-1120

http://old.utahrealestate.com/reports/photo/ln.wfr/929054

Amazing Sandy Location on a nice quiet street

J4R8TL

Price: $290,000

Type: Single Family

Bedrooms: 4

Bathrooms: 1 Full, 2 Half

 Garage: 2

 Square Feet: 3,248

Great Sandy Location…tucked in on a quiet street

What a great 2-story home in Sandy with an updated kitchen and full of beautiful natural light. There are 4 bedrooms on the upper level with an incredible master suite. This home offers an incredibly large .30 acre yard with beautiful mountain views from the back deck. Be sure to check out the hot-tub and gazebo. The beautiful front porch offers a perfect place to sit and relax and enjoy the quiet surroundings. Call Scott Robbins today to arrange a showing of this wonderful home.
801-209-1120
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