Utah Condominium Market 2009
Utah Condo Supply and Demand - Condo supply is up and demand is down for 2009. Condominium buyers enjoyed lower prices and a great selection to choose from. Salt Lake County Condos saw the highest price paid for a condo as well as the lowest price paid at $2,859,823 and $10,000 respectively. A Condo in Park City also posted the highest price at $2,450,000. In this annual report, Salt Lake County ended the year with the highest inventory of condos listed on the market with nearly half of the state total. Salt Lake County also had the highest number sold, more than half the sales within the state. Wasatch County has the highest average number of days it takes to sell a condo at 143 and the highest number of months of supply at 30.7 months. Weber County offers the best prices for condos with a 2009 median price of $119,900.
The chart below displays details for the Salt Lake Area Condo sales and market activity for 2009. Items highlighted in yellow are category leaders.
Utah Condo Sales Trends
| Number Sold | Median Price | Average Price | Low Price | High Price | Supply | # of Months Supply | Average Days on Market | |
| Utah | 3,714 | $155,000 | $183,400 | $10,000 | $2,859,823 | 3002 | 9.7 | 90 |
| Salt Lake County | 1,864 | $165,000 | $179,713 | $10,000 | $2,859,823 | 1338 | 8.6 | 86 |
| Utah County | 778 | $147,000 | $154,822 | $64,900 | $580,168 | 486 | 7.5 | 93 |
| Davis County | 313 | $161,100 | $163,539 | $51,000 | $402,281 | 181 | 6.9 | 83 |
| Weber County | 270 | $119,900 | $130,765 | $32,500 | $440,000 | 243 | 10.8 | 91 |
| Summit County | 270 | $325,000 | $472,145 | $19,000 | $2,450,000 | 428 | 19.0 | 114 |
| Cache County | 123 | $134,650 | $130,658 | $64,000 | $235,000 | 52 | 5.1 | 98 |
| Washington County | 64 | $121,000 | $133,250 | $40,500 | $417,900 | 70 | 13.1 | 90 |
| Wasatch County | 34 | $155,000 | $218,985 | $85,680 | $699,000 | 87 | 30.7 | 143 |
| Tooele County | 33 | $139,900 | $145,878 | $99,000 | $205,000 | 41 | 14.9 | 73 |
Source: Wasatch Front Regional Multiple Listing Service and condosUtah.com.
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