Home Price Trends

Salt Lake Home Prices consistently dropped for more than three years. Both the average list price, and sold price of Salt Lake City Houses and Condos went down. Now home values in Salt Lake seem to be stabilizing. Here are a few graphs that show the price trends for Salt Lake City Utah Real Estate.

Monthly Price Changes for Salt Lake City Real Estate

Single Family Home Sales Prices

Salt Lake Condo Sales Prices

Condo prices have been much more stable than single family homes, at least in terms of median sales price. Prices are down from their peak in early 2008, but the degree of decline is substantially yes than houses.

Salt Lake City Annual Price Changes

This graph clearly shows the effect of the “housing bubble” in terms of sales prices of Salt Lake City Homes. Prices now are about where they would be if there never was the rapid price appreciation.  The green and yellow lines in the graph below signify what home prices would have done had they appreciated at exactly 3% every year.