How much have home prices dropped in Salt Lake City?

Posted on | December 8, 2009 | 7 Comments

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.

Category: Market News, Salt Lake Real Estate Market
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Comments

7 Responses to “How much have home prices dropped in Salt Lake City?”

  1. Kelly
    December 8th, 2009 @ 12:59 pm

    Scott, do you have data that goes back another year or so? This might help identify more of a trend.

  2. scott
    December 8th, 2009 @ 1:18 pm

    Yes let me work on this. THanks for the comment.

  3. Wright Century 21 Real Estate Foreclosures
    January 2nd, 2010 @ 3:22 am

    uch have home prices dropped in Salt Lake City? : GreatScottUtah.com? Seriously? I was searching Google for wright century 21 real estate foreclosures and found this… will have to think about it.

  4. QFDaniel
    January 11th, 2010 @ 9:19 am

    Actually,good post. thx

  5. scott
    January 11th, 2010 @ 9:24 am

    Let me know if anyone needs more detailed information on specific zip codes. I can pull that information and get it to you!

  6. mcintosh33
    January 15th, 2010 @ 4:03 am

    check out the updated graph at http://www.greatscottutah.com/2010/01/sales-graph-for-2006-to-2009/

  7. scott
    January 15th, 2010 @ 9:13 am

    Do you want a specific zip code or just Salt Lake City proper?

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