While many people have been all to busy trying to "weather the storm", you may have not noticed that a little rain is good for your crops! The average sales price of homes has risen in 14 key areas in Utah, including an impressive 42.45% in the Park City area.
Where are the falling prices we have been hearing about?
- Washington county - Down 8.75%
- Juab County - Down 14.55%
- Iron County - Down 16.65% HOWEVER the average condo sales price in Iron county is UP an astonishing 35.68%
- Brigham / Tremonton Area - UP 10.87% ($171,928)
- Cache / Rich - UP 8.65% ($196,417)
- Carbon / Emery - UP 16.07% ($117,879)
- Davis County (Homes) - UP 0.04% ($247,768)
- Davis County (Condos) - UP 7.48% ($164,722)
- Grand County (Homes) - UP 17.48% ($269,200)
- Grand County (Condos) - UP 2.42% ($283.172)
- Morgan County - UP 0.57% ($331,690)
- Park City Area (Homes) - UP 42.45% ($1,224,007)
- Park City Area (Condos) - UP 50.86% ($841,473)
- San Juan County - UP 41.12% ($172,437)
- Salt Lake County (Homes) - UP 0.10% ($286,550)
- Salt Lake County (Condos) - UP 0.23% ($191,606)
- Tooele County - UP 13% ($203,954)
- Utah County (Homes) - UP 1.14% ($278,260)
- Utah County (Condos) - UP 2.13% ($172,975)
- Wasatch County - UP 91.15% ($670,039)
- Weber County (Homes) - UP 11.61% ($191,078)
- Weber County (Condos) - UP 29.37% ($139,668)
What is healthy appreciation?
Since 1968, home prices generally have risen between 1 and 2 percentage points faster than the overall rate of inflation. A healthy statewide appreciation should be between 7-10% so at 8.62% we are growing at a rate that is both equitable and combative toward a "bubble market".
If you have any questions on the current value of your home please feel free to send me an e-mail to receive a detailed comprehensive market analysis of your home that with unmatched detail and accuracy.
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