Salt Lake Real Estate Guy

General talk about Real Estate. How to buy, sell and invest in real estate. Loans, title, ideas for the beginner and experienced home owners. My day-to-day thoughts about being a real estate broker.

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Location: Salt Lake City/Park City, Utah, United States

I have been actively involved in the real estate industry for the past 20 years as an agent, owner, manager, broker and developer. I have attained the Graduate Realtor® Institute (GRI) designation, and Certified Residential Specialist (CRS) designation, which honors less than 4% of Realtor’s in the United States. I currently serve on the Education Committee of the Salt Lake Board of Realtors, and am a member of the Park City Board of Realtors and the Utah Association of Realtors. I am currently an Associate Broker for Windermere Real Estate in Salt Lake City, UT.

Saturday, November 18, 2006

3rd Quarter Housing Stats

UAR reports third quarter statistics: Average price up, sales slightly down for state

Even though home prices have dipped nationally in recent months, prices in Utah rose about 16 percent in the third quarter, according to recent statistics from the Utah Association of REALTORS®.
The 2006 UAR third quarter market report showed that Utah home prices averaged $255,402 in the third quarter. Excluding statistics from Park City, which tend to inflate the average, prices were at $240,790, up about 23.5 percent from third quarter 2005.
Home sales showed a slight decrease this quarter, dropping about 6 percent when compared to last year at this time, a reflection that the market is stabilizing to more normal levels after last year’s record-setting numbers. Home sales slowed only about 2.5 percent compared to second quarter 2006.
However, there were many areas in the state that did not see a slowdown in sales. Box Elder County, the Cache/Rich area, the Grand/San Juan area, Morgan County and Weber County all had home sales increase by more than 13 percent.
Additionally, appreciation was high in the third quarter with many areas having price increases of more than 16 percent. A complete market report is available at UtahRealtors.com/quarterly/mktrpts.htm.

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