by Joel Carson
RE/MAX Masters
There’s no question an $8,000 federal tax credit significantly boosted Utah home sales in 2009 and the first part of 2010. The Salt Lake Board of REALTORS® recently announced Salt Lake County home sales dropped 21 percent in the fourth quarter of 2010 compared to fourth quarter sales in 2009. A total 1,934 existing single-family homes sold during October, November, and December 2010. During the same three months in 2009 a total of 2,450 homes sold.
While the numbers might seem dismal at first glance, 2010’s fourth quarter sales were up 12 percent over the fourth quarter of 2008. Don’t look down. That was a big fall and not one we want to experience again any time soon. In fact, SLBR said that is when home sales were at their very worst throughout the entire United States.
While Utah home sales are bouncing a little here and there and during the fourth quarter of last year some areas actually saw increased sales. Here’s a brief breakdown for home sales in Northern Utah as recorded by the Salt Lake Board of REALTORS®:
Housing prices are slowly creeping up, but prices are still at historic lows and there is still an excellent inventory of short sale and foreclosure homes for sale in Utah. In the fourth quarter 2007 the median home price in Davis, Salt Lake, Tooele, Davis, and Weber Counties was $220,000. In the fourth quarter of 2010 the median home price in the same area was $160,990. Let ReMax/Masters help you buy your next Utah home while the buyers market offers you an edge.
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