Home prices in Salt Lake County remained relatively stable in the third quarter 2011. The new median home price for single family home sales was $195,800, which while down from last years $230,000, remained within the narrow median home price range we have seen since the start of the year.
The number of home sales has greatly increased over the last 12 months, going from 1925 last year to 2612 this year, that’s the highest number seen for 4 years. This is the classic sign of a recovery, where home sales increase but home prices lag behind.
If we look at a zip code level there were 6 areas that showed median home price appreciation, with the Historic Avenues area 84103 seeing the largest gain of 16%.
You can find a detailed breakdown of Home Prices in Salt Lake County, Utah County and Davis County on my Salt Lake UT Real Estate website.
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