THE SALT LAKE BOARD OF REALTORS® REPORTS 11% RISE IN SECOND QUARTER HOME SALES

29 July 2010 (Sandy) - The Salt Lake Board of REALTORS® today reported that second quarter existing home and condominium sales in Salt Lake County increased 11 percent compared to the same quarter last year (3,469 sales vs. 3,135).

Sales were strongest throughout many ZIP code areas including: West Valley City (84120) up 54 percent; Cottonwood (84121) up 46 percent; South Jordan (84095) up 14 percent; and the Avenues (84103) up 12 percent.
For the first half of 2010, sales of all residential properties were up 15 percent compared to the same six-month period in 2009 (5,672 sales vs. 4,942 sales). June home and condo sales were down 16 percent compared to June 2009 (1,040 sales vs. 1,241 sales).

Property Type:
There were 2,825 single-family homes sold in Salt Lake County in the second quarter, up 10 percent compared to 2,563 single-family homes sold during the same period in 2009.
Condominiums, townhomes and twin homes accounted for 615 sales in the second quarter, up 9 percent compared to 565 sales a year earlier.

Median Price:
The median price of all residential properties sold in Salt Lake County in the second quarter was $205,900, down 7 percent compared to a median price of $222,000 a year ago.
The median price of single-family homes sold in the second quarter was $219,900, down 8 percent compared to a median price of $239,000 last year.
The median price of condominiums, townhomes and twin homes sold in the second quarter was $161,500, down 6 percent compared to a median price of $172,240.
Prices fell in most ZIP code areas, but there were some areas that saw modest price increases. They included: Harvard/Yale (84105) up 6 percent; Taylorsville/Kearns (84123) up 5 percent; and Holladay (84124) up 2 percent.
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