Salt Lake's Real Estate Market in a Historical Context

My observation of Salt Lake's Real Estate market over the past 10-15 years has been that it tends to chug along at a very moderate appreciation rate in the range of 3-5%. There are times when it is slightly better than this and times when it is slightly worse. But, generally, that has been my observation. It is because of this very conservative appreciation that Salt Lake became one of the most undervalued markets in the country in 2005. Prices have truly skyrocketed over the 3 years since, but recently the number of sales are down and the appreciation rate has slowed.

Still, the homes that are selling are selling for more than they would have a year ago by about 7-14%. If you are considering buying a home in the Salt Lake area within the next 6 months, make sure you use an Exclusive Buyer's Agent who will help you evaluate the actual market value of homes and not use inflated values to get the Seller the most money or to get a higher commission.