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Utah Real Estate Pulse
June 10, 2008
Condo prices in Utah are increasing in two key cities - Bountiful and Ogden while falling in Park City.
Heber City, Provo, Saint George, Salt Lake City and Tooele saw condominium prices remaining flat.
These findings come from a study looking at condo sales in eight key cities in Utah. This study examined figures collected the past 365 days from May 31, 2008.
Each city is located within separate counties.
Tooele has the lowest median condo price at $134,900 and Park City with the highest at $325,000. Bountiful has the shortest selling time with an average of only 37 days. Heber City has the longest selling time at 150 days but also has the fewest selling condos at only 6 condominiums for the past year.
The chart below shows current condominium trends for major Utah counties:
|
City |
County |
|
Condo Median Price |
Condo Price Change +/- |
Condo Ave Market Time |
Condo Sales as % of Residential Property
Sold |
|
Bountiful |
Davis |
|
$148,200 |
+ |
37 |
28% |
|
Heber City |
Wasatch |
|
$195,000 |
same |
150 |
4% |
|
Ogden |
Weber |
|
$111,500 |
+ |
51 |
11% |
|
Park City |
Summit |
|
$325,000 |
- |
118 |
56% |
|
Provo |
Utah |
|
$160,000 |
same |
68 |
40% |
|
Saint George |
Washington |
|
$170,000 |
same |
74 |
27% |
|
Salt Lake City |
Salt Lake |
|
$169,200 |
same |
39 |
23% |
|
Tooele |
Tooele |
|
$134,900 |
same |
51 |
4% |
* Median sold price for single family homes and condos past 365 days.
Average market time report in number of
days to sell property listing.
(Source: Wasatch Front Regional Multiple Listing Service and
condosUtah
.com.
Information deemed reliable but not guaranteed.)
Salt Lake City Map
Barry J. Preusz,
REALTORŪ, Downtown Salt Lake City Condo Specialist,
Equity Real Estate,
7090 Union Park Center, Midvale Utah, 84047
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