Salt Lake County Annual 2012 Home Prices
Information on Salt Lake County home prices for 2012.
2012 Annual Home Prices
Does it feel like 2007 again? Homes are selling fast, sometimes within one or two days of coming on the market, often with muliple offers. Annual Salt Lake home prices increased for the first time since 2007 going up 6.53% to $212,000 for a single family home. The only zip codes returning a decline in home prices were Cottonwood 84121 down 0.04% and Salt Lake City 84108 down 2.99%. The best performing area was Salt Lake City 84104 increasing an impressive 30.24%.
Having said that it feels like 2007, there is one key different. In 2007 a total 29,203 homes were listed for sale, with a total number of homes sold of 11,368. In 2012 just 14,829 homes were listed for sale, with a total number sold of 10,969. This indicates a very tight inventory level and is the key reason for the increase in home prices. If we don't get more homes coming on the market and buyer demand remains contsant, the upward pressure of home prices will remain, and prices will continue their upward momentum.
|City||Postcode||Median Price||Units Sold||Percentage Change|
|Salt Lake City||84101||$97,950||12||N/A|
|Salt Lake City||84102||$228,500||114||up 0.33%|
|Salt Lake City||84103||$359,250||198||up 2.64%|
|Salt Lake City||84104||$110,700||212||up 30.24%|
|Salt Lake City||84105||$264,150||348||up 7.38%|
|Salt Lake City||84106||$223,900||400||up 4.77%|
|Salt Lake City||84108||$349,250||246||down 2.99%|
|Salt Lake City||84109||$279,900||283||up 8.91%|
|Salt Lake City||84111||$164,000||71||up 16.02%|
|Salt Lake City||84116||$130,500||264||up 8.75%|
|South Jordan||84095||$294,950||724||up 7.12%|
|South Salt Lake||84115||$151,700||258||up 8.43%|
|West Jordon||84084||$174,900||455||up 10.70%|
|West Jordon||84088||$210,000||383||up 6.60%|
|West Valley||84119||$135,000||314||up 8%|
|West Valley||84120||$144,000||505||up 8.68%|
|West Valley||84128||$155,000||358||up 6.16%|
Data for home prices information provided by WFRMLS