Salt Lake City Condos | Townhouses

Utah Condominium Trends

November 6, 2007

So far in 2007, Utah has sold 5,004 condos, according to the Wasatch Front Regional Multiple Listing Service data. The average price for a sold condo was $196,226. The condominiums averaged 47 days on the market until sold. A total of over $981 million dollars has been spent year-to-date on a condo purchase.

Currently there are 2,811 condos listed on the market. Of those currently listed, 1,276 are priced below $200,000. Some of the condos priced below $200,000 are time-shares, mostly concentrated in the Park City area. There are 296 condos priced above half-million dollars and only 42 priced above 1-million dollars. The highest priced condo currently on the market is in Park City, Belle Arbor subdivision for $4,295,000. It has 4 bedrooms, 4.5 baths, 2 car garage, hardwood and carpet floors and was built in 2004. The monthly HOA fee is $111.

So far this year, 24 condos have sold that were priced above 1-million. The highest priced condo sold was in Deer Valley for $3.5 million. It has 4 bedrooms, 2 full baths, 2 three-fours baths, one half-bath and a 2 car garage. This Empire Canyon property sold in July.

The chart below shows current trends for counties in the Salt Lake area:

 

 

(Source: Wasatch Front Regional Multiple Listing Service and condosUtah.com)