June 1, 2012

Cover Story

CEO of the Year

Utah’s business landscape is rich with professionals who have le...Read More

Featured Articles

Did you go Skiing this winter?

Around Utah


Martin Plaehn

Karen Sendelback

Legal Briefs
Social Media and Employers: Friends or Enemies?

Money Talk
The Case for HSAs

Economic Insight
Time to Show Up

Lessons Learned
Make a Move

In the Lab

Rent to Own

Business Trends
Back from the Dead

Living Well
Artful Inspiration

A Breath of Fresh Air

Worst-Case Scenario

Regional Report
Northern Utah

Measure Up

Industry Outlook
Travel & Tourism



Salt Lake Home Sales, Prices Up in April

Di Lewis

June 1, 2012

Home sales in Salt Lake County have been increasing for 11 months, while April saw a 4 percent median price increase, according to a report released Thursday by the Salt Lake Board of Realtors.

The median price increased to $193,000 this month. The county also saw a 17 percent increase in sales of previously owned homes and condos over April last year. The month’s sales accounted for 37 percent of home sales statewide with 1,107 sold, said Dave Anderton, communications director for the Salt Lake Board of Realtors.

Anderton said the housing market is showing a lot of promise, since 2011 sales were 942 and 2010 sales were 1,171. Sales were slightly higher two years ago because of the $8,000 homebuyer tax credit, he said.

While Salt Lake County is higher than statewide increases, Utah did see a 10 percent increase in sales overall.

Inventory is also back to a normal level, with a five-month supply of housing in April, compared to a nine-month supply last April. Anderton said a five- to six-month supply is considered normal.

“The number of homes listed for sale in Salt Lake County is at a 15-year record low,” said Donna Pozzuoli, president of the Salt Lake Board of Realtors, in the press release. “If you are a home buyer waiting for the bottom of the market you have already missed it.”

Anderton said they are beginning to see multiple offers on homes again, largely in the $150,000 to $250,000 range.

“You see people coming in at asking price now and not trying to lowball the seller,” Anderton said. While the market is still great in terms of affordability, the buyer’s market of the last five years is winding down, he said.

The number of short sales and foreclosures is still higher than historic averages. Anderton said the rates are falling and sales on both are moving faster. About one in three listings is a short sale, and the foreclosure rate is 2.4 percent.

“They’re harder to find, moving faster and priced right,” he said.

The Salt Lake Board of Realtors is seeing a comeback in membership as well. From a high of more than 9,000 members to a low of 5,000, Anderton said membership took a big hit with the decline of the housing market. In some months during the last year, they only had four or five new members a month, where for the last couple months he said they’ve seen about 50 new members each month.

Utah Business Social
UB Events View All
CXO of the Year 2015Utah Business Event
Jun 25, 2015
Utah Business Magazine along with Stoel Rives - are proud to present the 2015 CXO of the Year Awa...
Fast 50 - NOMINATIONS OPENUtah Business Event
Aug 27, 2015
NOMINATIONS OPEN -- Deadline June 26, 2015 Nomination Forms The top 50 companies will be se...
Job Summit - POSTPONED UNTIL FALL 2015 Utah Business Event
Sep 24, 2015
NOTE: The date listed below is not secured. We will update as the event gets closer. Thank you ...
Community Events View All
Mac OS X Support Essentials
May 29, 2015
Using Apple Certified Curriculum, Mac OS X Support Essentials is a hands-on course that provides ...
Self Hypnosis Workshop
May 30, 2015
Learn the secrets of Self Hypnosis and ‘Train Your Brain’ for Health, Happiness and Success. Ther...

info@utahbusiness.com  |  90 South 400 West, Ste 650 Salt Lake City, Utah 84101   |  (801) 568-0114

Advertise with Utah Business

Submit an Event

* indicates required information
* Event Name:
Price (general):
Website (if applicable):
Coordinator's Name:
Coordinator's Email:
Coordinator's Phone:
Venue Name:
Venue Address:
Venue City:
Venue Zip:
Event Capacity:
* Event Description: