Lowest Average Monthly Sales Price for Salt Lake since April 2006

Salt Lake County saw their lowest average monthly price for homes sold since April of 2006. During September, the average sold price of homes in Salt Lake was $241,124.
Average prices are down 6.6% compared with September of 2008.

Monthly Average Home Sales For Salt Lake Utah

In addition to prices being down, home sales were also down with their year over year comparison with September of last year. Reported on the MLS thus far, 894 Salt Lake County Homes have sold, down 5.5% from last September when 946 residential homes sold.

Inventory of homes for sale in Salt Lake has also declined. Currently there are 7430 active residential listings on the MLS in Salt Lake. At Septembers home sales pace this represents 8.3 months of active inventory. In all reality, this inventory will last longer than this as we are just hitting the slower seasonal time for real estate. The expiration of the $8,000 tax credit will also likely bring a larger drop in sales for the heart of winter.