Salt Lake County Home Prices 1Q 2015

Summary of how the Salt Lake County Utah housing market performed in the 1st quarter 2015.

1st Quarter 2015 Housing Market Update

After showing signs of slowing over the last few quarters, the 1st quarter 2015 showed more signs of an accelerating Salt Lake County market rather than a slowing one. Some of this can be put down to the mild winter, but there were other things driving the market. One of these was the ever shrinking inventory levels, which currently stands at just 1.3 months’ supply. A lower inventory level drives competition among buyers, which in turn puts upward pressure on prices.

The median home price for a single family home climbed 3.83% to $255,000. There were 2,528 homes sold, (increase of 15.17%), with a median number of days on market of 41 (a decline of 21.15%).

The condo market performed even better. On the back of strong sales (360 condos sold up 26.32%) the median sales price climbed 8.17% to $159,800. The median days on market did weaken slightly, climbing 3.70% to 56 days.

Zip Code City Property Type Median Price Percentage Change
84020 Draper Single Family $417,500 up 5.03%
84020 Draper Condo $175,000 N/A
84044 Magna Single Family $164,000 up 6.91%
84044 Magna Condo $99,000 N/A
84047 Midvale Single Family $215,250 down 3.80%
84047 Midvale Condo $150,900 up 15.63%
84065 Riverton Single Family $310,000 No Change
84065 Riverton Condo $249,000 N/A
84070 Sandy Single Family $224,750 down 1.40%
84070 Sandy Condo $155,500 up 4.10%
84084 West Jordan Single Family $208,500 up 1.21%
84084 West Jordan Condo $148,000 N/A
84088 West Jordan Single Family $238,450 down 1.06%
84088 West Jordan Condo $230,000 N/A
84092 Sandy Single Family $322,450 down 19.39%
84092 Sandy Condo $1,215,000 N/A
84093 Sandy Single Family $310,000 down 2.44%
84093 Sandy Condo $277,000 N/A
84094 Sandy Single Family $242,000 up 0.88%
84094 Sandy Condo $130,000 N/A
84095 South Jordan Single Family $370,557 up 5.90%
84095 South Jordan Condo $164,000 down 5.20%
84096 Herriman Single Family $299,350 down 1.85%
84096 Herriman Condo $168,000 N/A
84101 Salt Lake City Single Family $212,000 N/A
84101 Salt Lake City Condo $232,000 up 16%
84102 Salt Lake City Single Family $278,000 up 23.56%
84102 Salt Lake City Condo $192,000 up 17.25%
84103 Salt Lake City Single Family $392,000 up 14.20%
84103 Salt Lake City Condo $186,000 up 7.36%
84104 Salt Lake City Single Family $150,000 up 20%
84104 Salt Lake City Condo $51,000 N/A
84105 Salt Lake City Single Family $315,000 No Change
84105 Salt Lake City Condo No Sales No Sales
84106 Salt Lake City Single Family $265,000 down 3.36%
84106 Salt Lake City Condo $164,000 down 1.20%
84107 Murray Single Family $228,500 up 6.03%
84107 Murray Condo $140,000 up 19.91%
84108 Salt Lake City Single Family $413,000 up 3.51%
84108 Salt Lake City Condo $272,750 N/A
84109 Salt Lake City Single Family $339,900 up 11.44%
84109 Salt Lake City Condo $140,000 N/A
84111 Salt Lake City Single Family $204,950 up 5.64%
84111 Salt Lake City Condo $199,250 up 1.19%
84115 South Salt Lake Single Family $185,000 up 4.08%
84115 South Salt Lake Condo $130,000 N/A
84116 Salt Lake City Single Family $161,000 up 1.39%
84116 Salt Lake City Condo $75,155 N/A
84117 Holladay Single Family $389,000 up 4.43%
84117 Holladay Condo $119,650 down 4.66%
84118 Taylorsville/Kearns Single Family $170,500 up 7.50%
84118 Taylorsville/Kearns Condo No Sales No Sales
84119 West Valley City Single Family $175,750 up 12.16%
84119 West Valley City Condo $95,000 N/A
84120 West Valley City Single Family $179,150 up 3.86%
84120 West Valley City Condo $160,000 N/A
84121 Cottonwood Single Family $300,000 down 4.08%
84121 Cottonwood Condo $204,000 up 10.57%
84123 Taylorsville/Murray Single Family $244,500 up 9.79%
84123 Taylorsville/Murray Condo $115,750 N/A
84124 Holladay Single Family $325,500 down 17.18%
84124 Holladay Condo $218,000 N/A
84128 West Valley City Single Family $194,975 up 7.42%
84128 West Valley City Condo $138,500 N/A
Data for home prices information provided by WFRMLS