2008 Annual Salt Lake County Home Prices

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

2008 Annual Housing Market Update

2008 was a tricky year for real estate in Salt Lake County. The housing slowdown, which started towards the end of 2007, extended throughout 2008, putting ever-increasing pressure on home prices. The slowdown in homes sold caused an increase in the homes for sale inventory, which in turn caused the average time taken to sell a home to jump to 65 days (it was 39 in 2007). The new median home price for a single-family home in 2008 declined to 3.71% to $240,000, which does not seem that bad when considering the declines seen in other U.S. real estate markets.

Even with all the bad news, some areas in Salt Lake County still managed to increase their median home price. Condo home prices held out a lot better than single family homes, with 13 zip codes seeing the condo median price increasing and just four zip codes seeing single family home prices increase.

Zip Code City Property Type Median Price Percentage Change
84020 Draper Single Family $380,950 up 6.29%
84020 Draper Condo $205,675 down 14.27%
84044 Magna Single Family $169,950 down 2.69%
84044 Magna Condo $114,300 up 3.91%
84047 Midvale Single Family $220,000 No Change
84047 Midvale Condo $145,000 down 3.33%
84065 Riverton Single Family $315,000 down 7.08%
84065 Riverton Condo $198,450 down 3.67%
84070 Sandy Single Family $229,250 down 3.27%
84070 Sandy Condo $177,250 down 13.54%
84084 West Jordan Single Family $220,000 down 3.30%
84084 West Jordan Condo $172,000 down 1.71%
84088 West Jordan Single Family $254,900 down 5.59%
84088 West Jordan Condo $189,000 down 0.53%
84092 Sandy Single Family $367,000 down 7.78%
84092 Sandy Condo $418,625 N/A
84093 Sandy Single Family $318,750 down 8.38%
84093 Sandy Condo $270,750 N/A
84094 Sandy Single Family $249,950 down 1.09%
84094 Sandy Condo $220,000 up 2.56%
84095 South Jordan Single Family $353,490 up 0.42%
84095 South Jordan Condo $209,900 down 2.37%
84096 Herriman Single Family $296,000 down 0.73%
84096 Herriman Condo $187,750 down 0.23%
84101 Salt Lake City Single Family $164,250 N/A
84101 Salt Lake City Condo $299,900 down 0.03%
84102 Salt Lake City Single Family $259,900 down 3.36%
84102 Salt Lake City Condo $171,900 down 2.05%
84103 Salt Lake City Single Family $375,000 down 3.23%
84103 Salt Lake City Condo $197,900 up 10.17%
84104 Salt Lake City Single Family $141,030 up 2.94%
84104 Salt Lake City Condo $75,000 up 7.14%
84105 Salt Lake City Single Family $274,614 down 8.16%
84105 Salt Lake City Condo $249,950 N/A
84106 Salt Lake City Single Family $249,700 down 5.77%
84106 Salt Lake City Condo $164,900 down 5.77%
84107 Murray Single Family $219,900 down 9.09%
84107 Murray Condo $133,000 up 3.91%
84108 Salt Lake City Single Family $387,000 down 7.53%
84108 Salt Lake City Condo $308,500 up 9.53%
84109 Salt Lake City Single Family $306,000 down 6.92%
84109 Salt Lake City Condo $192,200 down 41.22%
84111 Salt Lake City Single Family $182,500 up 1.45%
84111 Salt Lake City Condo $197,937 up 30.22%
84115 South Salt Lake Single Family $175,000 down 4.76%
84115 South Salt Lake Condo $156,550 down 3.66%
84116 Salt Lake City Single Family $176,000 up 5.39%
84116 Salt Lake City Condo $94,950 up 3.21%
84117 Holladay Single Family $330,000 down 14.29%
84117 Holladay Condo $147,500 up 1.72%
84118 Taylorsville/Kearns Single Family $185,000 down 2.37%
84118 Taylorsville/Kearns Condo $192,450 up 53.65%
84119 West Valley City Single Family $170,000 down 8.08%
84119 West Valley City Condo $146,000 No Change
84120 West Valley City Single Family $189,900 No Change
84120 West Valley City Condo $139,900 up 0.72%
84121 Cottonwood Single Family $309,500 down 5.57%
84121 Cottonwood Condo $220,000 up 1.26%
84123 Taylorsville/Murray Single Family $234,000 down 2.50%
84123 Taylorsville/Murray Condo $141,750 up 5.08%
84124 Holladay Single Family $338,400 down 6.91%
84124 Holladay Condo $201,500 down 1.56%
84128 West Valley City Single Family $206,000 down 0.73%
84128 West Valley City Condo $164,900 down 0.93%
Data for home prices information provided by WFRMLS