Salt Lake County Home Prices For the Second Quarter 2011

On the surface Salt Lake County home sales for the second quarter 2011 look very disappointing, with just 5 zip codes seeing increases for single family homes, and 4 zip codes for condos. The combined median home price dropped from $200,000 in 2nd quarter 2010 to $189,900 this quarter, a drop of 5.05%. While this looks bad, if we look at quarter on quarter stats we see that home prices actually increased from $187,000 to $189,900, an increase of 1.55%.

If we look just at single family home prices, the best performing areas in the quarter were Draper 84020, Salt Lake City 84102 and South Salt Lake 84115, all of which experienced low single digit rises compared to last year. When we look at the worst performing areas they mostly seem to be focused on the cheaper zip codes. West Valley City (84128,84120,84119), Taylorsville (84123), Salt Lake City (84104, 84116), Magna (84044) and Murray (84107) all experienced sizable double digit declines.

The downtown Salt Lake City 84101 area, which has been really hit over the last few years, experienced a decent rebound, with the median home price increasing over 34% to $259,000. The worst performing areas were Taylorsville (84123) down 26%, and West Valley City (84128) down 27%.

 

Zip Code	City	Property Type	Median Price	Change
84020	Draper	Single Family	$350,000	up 3.24%
84020	Draper	Condo	$175,750	down 0.46%
84044	Magna	Single Family	$123,000	down 12.03%
84044	Magna	Condo	$34,000	N/A
84047	Midvale	Single Family	$172,000	down 1.43%
84047	Midvale	Condo	$157,500	up 0.49%
84065	Riverton	Single Family	$255,600	down 10%
84065	Riverton	Condo	$152,500	down 7.58%
84070	Sandy	Single Family	$185,000	down 7.5%
84070	Sandy	Condo	$146,950	down 13.76%
84084	West Jordan	Single Family	$155,900	down 17.9%
84084	West Jordon	Condo	$125,000	down 13.19%
84088	West Jordan	Single Family	$200,000	down 3.15%
84088	West Jordan	Condo	$120,000	down 19.97%
84092	Sandy	Single Family	$285,000	down 13.37%
84092	Sandy	Condo	$120,000	N/A
84093	Sandy	Single Family	$290,000	up 0.87%
84093	Sandy	Condo	No Sales	N/A
84094	Sandy	Single Family	$184,900	down 11.95%
84094	Sandy	Condo	$186,950	N/A
84095	South Jordan	Single Family	$277,000	down 2.52%
84095	South Jordan	Condo	$172,210	down 11.69%
84096	Herriman	Single Family	$258,000	down 0.19%
84096	Herriman	Condo	$153,500	up 3.89%
84101	Salt Lake City	Single Family	$148,000	N/A
84101	Salt Lake City	Condo	$259,000	up 34.3%
84102	Salt Lake City	Single Family	$211,250	up 2.8%
84102	Salt Lake City	Condo	$182,250	up 2.93%
84103	Salt Lake City	Single Family	$323,500	down 13.39%
84103	Salt Lake City	Condo	$190,500	down 11.4%
84104	Salt Lake City	Single Family	$87,000	down 32.56%
84104	Salt Lake City	Condo	$45,250	N/A
84105	Salt Lake City	Single Family	$266,900	down 2.06%
84105	Salt Lake City	Condo	$129,900	N/A
84106	Salt Lake City	Single Family	$219,950	down 8.35%
84106	Salt Lake City	Condo	$150,000	down 5.66%
84107	Murray	Single Family	$165,000	down 18.72%
84107	Murray	Condo	$123,000	up 2.5%
84108	Salt Lake City	Single Family	$364,900	up 0.52%
84108	Salt Lake City	Condo	$225,000	N/A
84109	Salt Lake City	Single Family	$255,500	down 10.04%
84109	Salt Lake City	Condo	$330,765	N/A
84111	Salt Lake City	Single Family	$152,500	N/A
84111	Salt Lake City	Condo	$138,900	down 15.77%
84115	South Salt Lake	Single Family	$151,950	up 0.6%
84115	South Salt Lake	Condo	$171,000	down 8.41%
84116	Salt Lake City	Single Family	$110,000	down 31.21%
84116	Salt Lake City	Condo	$64,200	N/A
84117	Holladay	Single Family	$292,900	down 1.21%
84117	Holladay	Condo	$134,800	down 6.45%
84118	Taylorsville/Kearns	Single Family	$128,100	down 17.35%
84118	Taylorsville/Kearns	Condo	No Sales	N/A
84119	West Valley City	Single Family	$127,000	down 18.59%
84119	West Valley City	Condo	$109,450	down 11.02%
84120	West Valley City	Single Family	$130,025	down 17.71%
84120	West Valley City	Condo	$145,650	down 18.52%
84121	Cottonwood	Single Family	$260,000	down 6.89%
84121	Cottonwood	Condo	$194,350	down 10.44%
84123	Taylorsville/Murray	Single Family	$195,500	down 12.92%
84123	Taylorsville/Murray	Condo	$97,500	down 26.14%
84124	Holladay	Single Family	$267,900	down 15.42%
84124	Holladay	Condo	$235,000	N/A
84128	West Valley	Single Family	$141,000	down 14.55%
84128	West Valley	Condo	$107,000	down 27.65%

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