Salt Lake County Prices 1Q 2008

Summary of how the Salt Lake County Utah housing market performed in the first quarter 2008.

1st Quarter 2008 Housing Market Update

Homes price appreciation slowed to almost a stop in the first quarter 2008. The number of homes sold fell by more than 41%, and the amount of time it took to sell a home rose to 58 days (a 45% increase). Even with these figures the Salt Lake County median single family home price still rose by 0.34%, while the median condo price fell by just 0.65%. 

At the moment there is a housing stalemate, with sellers refusing to lower their listing price unless they absolutely need to sell. While buyers are discouraged by the national real estate market, and are also finding it harder to obtain a loan because of the new stricter lending requirements.

Zip Code City Property Type Median Price Percentage Change
84020 Draper Single Family $399,900 up 4.53%
84020 Draper Condo $215,000 down 16.51%
84044 Magna Single Family $179,900 up 8.39%
84044 Magna Condo $111,650 up 14.51%
84047 Midvale Single Family $220,500 up 7.46%
84047 Midvale Condo $183,000 up 36.57%
84065 Riverton Single Family $322,000 up 5.5%
84065 Riverton Condo $164,900 down 13.05%
84070 Sandy Single Family $230,950 down 0.45%
84070 Sandy Condo $175,990 down 26.64%
84084 West Jordan Single Family $220,000 down 1.33%
84084 West Jordan Condo $171,500 up 2.14%
84088 West Jordan Single Family $255,000 down 3.77%
84088 West Jordan Condo $190,000 up 2.70%
84092 Sandy Single Family $380,000 down 7.61%
84092 Sandy Condo $259,900 N/A
84093 Sandy Single Family $313,750 down 7.17%
84093 Sandy Condo $1,039,000 N/A
84094 Sandy Single Family $250,000 down 1.96%
84094 Sandy Condo $242,750 down 4.05%
84095 South Jordan Single Family $345,000 down 4.17%
84095 South Jordan Condo $211,206 up 6.72%
84101 Salt Lake City Single Family $372,000 N/A
84101 Salt Lake City Condo $299,900 up 12.11%
84102 Salt Lake City Single Family $190,830 down 30.61%
84102 Salt Lake City Condo $182,000 up 4.00%
84103 Salt Lake City Single Family $392,500 down 3.51%
84103 Salt Lake City Condo $263,000 up 64.48%
84104 Salt Lake City Single Family $145,900 up 10.95%
84104 Salt Lake City Condo $74,000 N/A
84105 Salt Lake City Single Family $265,000 down 7.02%
84105 Salt Lake City Condo N/A N/A
84106 Salt Lake City Single Family $259,900 down 3.99%
84106 Salt Lake City Condo $149,000 down 19.46%
84107 Murray Single Family $232,500 down 2.70%
84107 Murray Condo $128,575 up 9.05%
84108 Salt Lake City Single Family $415,000 up 4.01%
84108 Salt Lake City Condo $369,435 up 20.53%
84109 Salt Lake City Single Family $330,000 up 5.94%
84109 Salt Lake City Condo $165,000 N/A
84111 Salt Lake City Single Family $185,000 up 9.63%
84111 Salt Lake City Condo $165,450 up 3.12%
84112 Salt Lake City Single Family $195,000 N/A
84112 Salt Lake City Condo $185,000 N/A
84113 Salt Lake City Single Family N/A N/A
84113 Salt Lake City Condo $89,900 N/A
84115 South Salt Lake Single Family $168,300 down 0.71%
84115 South Salt Lake Condo $132,250 down 31.85%
84116 Salt Lake City Single Family $177,000 up 9.26%
84116 Salt Lake City Condo $92,500 down 22.92%
84117 Holladay Single Family $380,000 up 9.20
84117 Holladay Condo $180,300 up 2.80%
84118 Taylorsville/Kearns Single Family $185,000 up 0.82%
84118 Taylorsville/Kearns Condo $202,000 N/A
84119 West Valley City Single Family $169,500 down 5.41%
84119 West Valley City Condo $146,853 up 6.61%
84120 West Valley City Single Family $193,000 up 4.32%
84120 West Valley City Condo $139,500 N/A
84121 Cottonwood Single Family $315,000 down 3.08%
84121 Cottonwood Condo $268,900 up 19.56%
84123 Taylorsville/Murray Single Family $129,000 up 11.46%
84123 Taylorsville/Murray Condo $29,000 up 11.69%
84124 Holladay Single Family $332,000 down 2.17%
84124 Holladay Condo $186,750 up 20.48%
84128 West Valley City Single Family $215,525 up 1.66%
84128 West Valley City Condo $159,900 down 3.59%
Data for home prices information provided by WFRMLS