Annual Salt Lake County Home Prices 2008

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	Change
84020	Draper	Single Family	$380,950	down 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 Jordon	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	down7.53%
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	Single Family	$206,000	down 0.73%
84128	West Valley	Condo	$164,900	down 0.93%

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