|
The Number
of Condos For Sale in the Salt Lake Area
A detailed
look at what is currently for sale and the average prices.
October 15, 2007
Four Utah counties
were surveyed for this report—Salt Lake, Utah,
Summit and Davis. Salt Lake County has posted the
most condos sold year-to-date and has the most
condos currently listed on the market for sale.
Currently with 1,054 condos for sale, Salt Lake
County is almost double the second highest
county—Utah County with 642.
In the chart
below, the number of condos listed on the market,
the price ranges, average price sold, average price
listed and the number of condos sold year-to-date
are displayed:
|
|
Salt Lake |
Utah |
Summit |
Davis |
|
# Currently Listed on the Market |
1,054 |
642 |
414 |
127 |
|
Below $100,000 |
22 |
11 |
24 |
2 |
|
Between $100,001 - $200,000 |
431 |
407 |
46 |
52 |
|
Between $200,001 - $300,000 |
329 |
147 |
51 |
48 |
|
Between $300,001 - $400,000 |
155 |
38 |
61 |
18 |
|
Between $400,001 - $500,000 |
50 |
21 |
76 |
7 |
|
$500,001 and Above |
67 |
18 |
156 |
0 |
|
# Sold YTD 2007 |
2,271 |
1,116 |
297 |
272 |
|
Ave Price Sold |
$192,064 |
$172,508 |
$461,443 |
$165,522 |
|
Ave Listing Price |
$349,074 |
$342,145 |
$804,292 |
$310,943 |
|
Ave Days on Market Until Sold |
36 |
49 |
89 |
43 |
Summit County boasts the
highest average sold price at $461,443 for
year-to-date figures, more than double for Salt Lake
County and nearly triple of Davis County. More
stunning is Summit County’s very high average
listing price of $804,292. No other county reaches
even half of that figure. Condo sellers in Summit
County can expect a very long wait to sell their
condo with an average days on market of 89. The
higher the price, the longer the wait for a buyer is
likely to be.
Condo buyers can expect a large
selection as market inventories continue to grow.
Condos priced below $200,000 show a lot of buyer
activity and often competing bids. Condos priced
above $300,000 are moving much slower.
The chart below shows current
market listings for townhouses:
|
|
Salt Lake |
Utah |
Summit |
Davis |
|
# Currently Listed on the Market |
478 |
340 |
83 |
77 |
|
Below $100,000 |
1 |
1 |
1 |
1 |
|
Between $100,001 - $200,000 |
166 |
190 |
1 |
42 |
|
Between $200,001 - $300,000 |
238 |
132 |
2 |
32 |
|
Between $300,001 - $400,000 |
56 |
15 |
8 |
2 |
|
Between $400,001 - $500,000 |
3 |
1 |
27 |
0 |
|
$500,001 and Above |
12 |
1 |
44 |
0 |
Source:
WFRMLS and condosUtah.com. Information deemed reliable buy not guaranteed.
Other Utah Condo Reports:
The Number of Condos for Sale in the Salt Lake Area
2006 Utah Condo Report
Downtown Salt Lake City Condo Developments
Salt Lake Area New Condo and Townhouse Development
Utah Condo News & Trends
Clearfield, Utah Condo Development
West Valley, Utah Condominiums
Holladay, Utah Condo Market Trends
Provo, Utah - BYU Condos
Utah Real Estate Pulse - June, 2008
Salt Lake City Map
Barry J. Preusz,
REALTOR®, Downtown Salt Lake City Condo Specialist,
Equity Real Estate,
7090 Union Park Center, Midvale Utah, 84047
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