Look at this incredible home with custom additions!

Price: $450,000

 Bedrooms: 5

 Bathrooms: 2 Full, 2 Half

 Garage: 2

 Square Feet: 5,238

Entertainer’s Dream! Recently renovated Willowcreek Country Club 17th fairway area location. Marble master bath. Huge second level with a custom master suite retreat bedroom. SouthEast Facing master bedroom with unobstructed mountain views. Spacious walk-in closet, sauna, jetted tub, new furnace, hot water heater. Gourmet kitchen with Sub-Zero fridge, Wolf commercial quality range, granite and stainless steel counters.
http://www.circlepix.com/tours/5?wfrnum=953574

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.

October 27, 2009….Salt Lake Properties under $350,000 moving. $500,000 plus still slow.

Right now houses under $350,000 are still moving.  In this price range, the average time on the market is less than 4 months.  But if you have a home above $500,000 this could be on the market for more than 7 months.  In the “high” high end range ($900,000 +), the only properties that are selling are properties that are “steals”.