Salt Lake County Prices 4Q 2008

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

4th Quarter 2008 Housing Market Update

With the downturn in the economy and the already slow housing market, home prices in Salt Lake County continued to stuggle in the 4th quarter 2008. Most areas suffered declines in their median home price, with five areas seeing double digit decreases. The more expensive areas in Salt Lake seemed to suffer more than the others, with 84092 (Sandy) down 16.31%, 84093 (Sandy) down 21.96%, 84103 (Avenues area of Salt Lake) down 15.95%, and 84117 (Holladay) down a massive 28.84%. This reflects what is currently going on in the market, with any homes above $250,000 really stuggling to sell. The downtown Salt Lake City condo market until recently had withstood the general housing slowdown, but now it has all but ground to a halt, with only three condo sales in the entire quarter.

There were some bright points, 84102 (Univercity of Utah area) saw both single family homes (up 3.77%) and condo prices (up 6.95%) increase compared to the same time last year.

Zip Code City Property Type Median Price Percentage Change
84020 Draper Single Family $373,000 down 4.53%
84020 Draper Condo $217,104 down 1.76%
84044 Magna Single Family $162,250 down 4.53%
84044 Magna Condo $131,773 N/A
84047 Midvale Single Family $208,900 down 5.86%
84047 Midvale Condo $138,750 down 7.50%
84065 Riverton Single Family $319,000 down 1.85%
84065 Riverton Condo $201,500 down 2.07%
84070 Sandy Single Family $216,000 down 5.68%
84070 Sandy Condo $199,610 up 17.49%
84084 West Jordan Single Family $215,000 down 2.27%
84084 West Jordan Condo $179,450 up 1.10%
84088 West Jordan Single Family $240,500 down 9.16%
84088 West Jordan Condo $169,900 N/A
84092 Sandy Single Family $340,000 down 16.31%
84092 Sandy Condo N/A N/A
84093 Sandy Single Family $282,500 down 21.96%
84093 Sandy Condo $261,000 N/A
84094 Sandy Single Family $238,500 down 3.73%
84094 Sandy Condo $230,250 N/A
84095 South Jordan Single Family $331,000 down 2.36%
84095 South Jordan Condo $197,175 down 15.56%
84096 Herriman Single Family $281,000 down 4.06%
84096 Herriman Condo $167,900 down 11.63%
84101 Salt Lake City Single Family N/A N/A
84101 Salt Lake City Condo $385,000 N/A
84102 Salt Lake City Single Family $275,000 up 3.77%
84102 Salt Lake City Condo $177,000 up 6.95%
84103 Salt Lake City Single Family $338,450 down 15.95%
84103 Salt Lake City Condo $186,900 down 20.81%
84104 Salt Lake City Single Family $139,900 up 0.65%
84104 Salt Lake City Condo $72,450 N/A
84105 Salt Lake City Single Family $268,000 down 5.60%
84105 Salt Lake City Condo N/A N/A
84106 Salt Lake City Single Family $237,000 down 9.20%
84106 Salt Lake City Condo $147,000 down 18.90%
84107 Murray Single Family $215,000 down 7.33%
84107 Murray Condo $140,250 up 2.37%
84108 Salt Lake City Single Family $392,000 up 2.48%
84108 Salt Lake City Condo $335,500 N/A
84109 Salt Lake City Single Family $267,400 down 4.16%
84109 Salt Lake City Condo $188,000 N/A
84111 Salt Lake City Single Family $169,744 down 4.85%
84111 Salt Lake City Condo $183,950 up 36.26%
84115 South Salt Lake Single Family $168,750 down 0.94%
84115 South Salt Lake Condo $165,000 down 1.93%
84116 Salt Lake City Single Family $169,950 No Change
84116 Salt Lake City Condo $93,250 up 1.63%
84117 Holladay Single Family $285,500 down 28.84%
84117 Holladay Condo $149,000 down 14.37%
84118 Taylorsville/Kearns Single Family $179,400 down 1.16%
84118 Taylorsville/Kearns Condo $99,000 N/A
84119 West Valley City Single Family $159,900 down 14.49%
84119 West Valley City Condo $142,500 down 4.26%
84120 West Valley City Single Family $171,000 down 8.02%
84120 West Valley City Condo $240,399 N/A
84121 Cottonwood Single Family $274,950 down 7.80%
84121 Cottonwood Condo $255,000 down 14.00%
84123 Taylorsville/Murray Single Family $234,000 down 7.92%
84123 Taylorsville/Murray Condo $140,000 down 2.27%
84124 Holladay Single Family $397,500 up 12.77%
84124 Holladay Condo $139,000 N/A
84128 West Valley City Single Family $201,250 down 2.90%
84128 West Valley City Condo $163,800 N/A
Data for home prices information provided by WFRMLS