Utah Condos  > > Utah Condominium Trends


Condo Trends in Utah


Downtown Salt Lake City Condominiums - Garden Towers Utah Condo Prices have become much more affordable over the past four years. In the first quarter of 2007, Utah condo prices had a median sold price of $167,000. In the final quarter of 2010, Utah condo prices achieved a median price of $144,000 or $23,000 less. Utah Condo Demand for condominiums in Utah has fallen with 821 selling in the last quarter of 2010 compared with the high of 1,929 condos and townhouses sold in the 2nd quarter of 2007. Utah Condo Supply refers to the number condominiums for sale in relationship to the number of months it will take to sell the current supply on hand. Utah condos for sale on the market as of January 18, 2010 was 3,493. This number of condos for sale represents an 11 month supply, constituting a strong buyers market.


Utah Condo Trend Summary

Condo Prices: Down ($152,000 median December 2010)

Condo Supply: Up (11 months supply January 2011)

Condo Demand: Down (3,853 sold in 2010 compared with 6,964 in 2006)

Condo Market Direction: Buyer's Market


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Barry J. Preusz
REALTOR | Residential Specialist

Equity Real Estate, 1218 East 7800 South, Salt Lake City, Utah 84094
Office: 801-993-0083

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