Salt Lake City Days On Market Improving, Say Realtors
by Blanche Evans
Realtors in the Salt Lake City area report that homes are starting to sell more quickly now that low interest rates are continuing. "Salt Lake City is the capitol of the state of Utah and is the largest populated city in the state," say Realtors Margene and Ron Wrigley. "It is located in Salt Lake County that includes 27 individual cities. Salt Lake International Airport brings visitors to our world renowned ski resorts, and wealth of outdoor enjoyment in the canyons and parks." The Wrigleys continue, "Our market conditions, year to date as of 10-15-2004, show most homes are on the market between 60 and 90 days." They report: Single family homes with: 2 Bedrooms or less; sold 929 units with an average price of $128,844 and a dollar volume of $119,733,582. 3 Bedrooms; 3,597 units with an average price of $164,481 and dollar volume of $591,640,967. 4 bedrooms or more; 5,536 units sold with an average price of $228,321 and a dollar volume of $1,263,986,098. Total; total units sold 10,062, average price $196,318 and dollar volume of $1,975,360,647
condo sales had 1,793 total units sold, average price of $138,642 and a dollar volume of $248,585,799. "Please note that planned unit developments, (PUDs) are part of the single family home category," advise the Wrigleys. "This area includes Includes city-center east and west to South Salt Lake," says Realtor Steve Martens, "The Avenues area average sales price is $322,246. Days on market has improved to 60 days. Interest rates and value of homes are both going upward and expected to continue upward for 2004 after a strong first and second quarter. It is time to act. The Sugarhouse and East Bench markets are strong for homes under $300,000 and almost a seller's market for homes under $150,000." Say Realtors Al and Patricia Fenimore, "This market area includes Salt Lake City, North & South Salt Lake, Murray Holladay, Cottonwood, Millcreek Areas. The Average three bedroom home sells for just over $194,290.00 and four Bedrooms for $223,022.00. The average days on the market indicates 30 days with 382 homes sold in the last 90 days and 904 new listings. This indicates That 50 percent of the homes will be sold in 90 days." |
