Utah Condos > > Utah Condominium Review for 2010
Utah Condominium Review 2010
Utah Condominium sales were down in 2010, experiencing a 16% decrease for the year. Over 730 more condos sold in 2009 than in 2010. Both demand and prices went down this past year from 2009 figures. Condominium prices fell by slightly over 3% to a new median sold price of $149,500, more than $10,000 less. Sellers are showing that they are more will to negotiate price as evidenced by a decrease of $4,763 from the listing price to the actual sold price. Although Utah Condo prices fell this past year, the median square foot price remained unchanged at $106 per square foot. Condos took longer to sell in Utah this past year by 15 days. Utah Condo supply at the end of the year stood at 11.53 months supply, showing the past year as a strong buyers market. Below is a summary of Utah Condo statistics for 2010 compared with statistics for the previous four years.
Condo Price
|
Utah Condos/Townhouses |
Down 3% |
Demand
|
Utah Condos/Townhouses |
Down 16% |
Supply
|
Utah Condos/Townhouses |
11.53 month supply |
|
Utah Condos/Townhouses |
95 days to sell |
Source: WFRMLS and condosUtah.com, data is deemed reliable but not guaranteed.
