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Utah Condominium Sales Trends - July 2010

 

July 6, 2010Utah Condominiums - Dakota Lofts

Utah Condo sales are up and condo prices are down. Condos sales have gone up in Utah during the first half of this year compared with the same period in 2009 by 36%. Condo and townhouse sales recorded by the WFRMLS reached 1,389. The median condo price sold was $152,491 which is $10,760 less than the median listing price. The median square foot price has slipped by $5 to $102 per square foot. It is taking about 79 days to sell a condo or townhouse in 2010. Boosting condo sales so far this year are lower prices, low interest rates, and tax incentives.

Below are some highlights as well as a chart of detailed sales figures:

  1. 1.  Interest rates have fallen below 5% for some qualified buyers!

  2. 2.  Utah townhouses and condos had a median square foot sold of 1,430.

  3. 3.  The Utah condo price median for the first six months of 2010 is below the median for 2007, 2008, and 2009, but $10,454 above 2006.

  4. 4.  Extended tax incentives to buy condominiums through April 2010 have boosted condos sales.

Month Count Mdn OL $ Mdn Sold $ Mdn OL minus S Mdn SQ FT Mdn $/SQ FT Mdn CDOM
Jul-05 281 $132,900 $133,900 -$1,000 1,380 $90.64 44
Aug-05 279 $125,000 $125,000 $0 1,422 $87.66 37
Sep-05 272 $134,000 $133,975 $25 1,413 $90.13 40
Oct-05 264 $136,450 $137,500 -$1,050 1,462 $94.04 37
Nov-05 236 $137,900 $138,808 -$908 1,440 $93.31 32
Dec-05 211 $137,700 $136,500 $1,200 1,458 $92.68 37
Half 2005 Mdn 268 $135,225 $135,238 -$454 1,431 $91.66 37
Month Count Mdn OL $ Mdn Sold $ Mdn OL minus S Mdn SQ FT Mdn $/SQ FT Mdn CDOM
Jan-06 162 $138,900 $137,000 $1,900 1,452 $90.46 44
Feb-06 190 $132,400 $132,850 -$450 1,431 $94.39 41
Mar-06 271 $130,673 $133,900 -$3,227 1,412 $94.57 19
Apr-06 278 $139,400 $140,500 -$1,100 1,450 $93.40 23
May-06 329 $135,000 $136,000 -$1,000 1,380 $94.85 18
Jun-06 284 $140,000 $141,934 -$1,934 1,464 $96.47 15
Jul-06 287 $141,900 $142,140 -$240 1,380 $97.96 12
Aug-06 323 $149,000 $147,300 $1,700 1,403 $99.75 14
Sep-06 271 $149,900 $150,000 -$100 1,411 $103.71 17
Oct-06 253 $162,900 $162,900 $0 1,465 $105.56 13
Nov-06 251 $175,163 $178,000 -$2,837 1,460 $117.66 13
Dec-06 197 $164,900 $164,900 $0 1,479 $110.19 14
2006 Mdn 271 $140,950 $142,037 -$345 1,441 $97.22 16
Month Count Mdn OL $ Mdn Sold $ Mdn OL minus S Mdn SQ FT Mdn $/SQ FT Mdn CDOM
Jan-07 197 $167,500 $167,900 -$400 1,436 $112.42 23
Feb-07 219 $171,352 $167,000 $4,352 1,488 $110.73 18
Mar-07 282 $179,900 $178,418 $1,483 1,484 $118.86 21
Apr-07 263 $174,900 $173,000 $1,900 1,447 $117.74 11
May-07 333 $174,218 $174,000 $218 1,388 $116.48 14
Jun-07 281 $174,900 $170,000 $4,900 1,411 $118.33 17
Jul-07 286 $186,950 $184,900 $2,050 1,475 $119.07 22
Aug-07 307 $183,000 $178,000 $5,000 1,411 $117.65 27
Sep-07 212 $170,950 $169,000 $1,950 1,356 $120.92 33
Oct-07 213 $182,900 $183,500 -$600 1,526 $117.07 42
Nov-07 179 $184,500 $178,500 $6,000 1,488 $118.66 47
Dec-07 171 $172,000 $167,005 $4,995 1,436 $118.37 50
2006 Mdn 241 $174,900 $173,500 $2,000 1,442 $118.04 22.5
Month Count Mdn OL $ Mdn Sold $ Mdn OL minus S Mdn SQ FT Mdn $/SQ FT Mdn CDOM
Jan-08 125 $179,900 $178,235 $1,665 1,476 $118.09 55
Feb-08 181 $181,900 $177,000 $4,900 1,534 $113.79 63
Mar-08 220 $174,900 $171,750 $3,150 1,437 $114.93 58
Apr-08 221 $179,900 $172,500 $7,400 1,447 $115.81 66
May-08 233 $177,999 $175,000 $2,999 1,430 $115.46 62
Jun-08 229 $174,900 $169,900 $5,000 1,400 $115.66 59
Jul-08 242 $173,450 $169,000 $4,450 1,432 $116.37 60
Aug-08 254 $181,250 $175,000 $6,250 1,476 $117.09 70
Sep-08 245 $176,900 $171,500 $5,400 1,462 $116.61 61
Oct-08 189 $178,900 $174,500 $4,400 1,474 $112.90 71
Nov-08 138 $179,900 $171,000 $8,900 1,507 $110.74 84
Dec-08 167 $178,335 $165,000 $13,335 1,476 $107.97 82
2006 Mdn 220.5 $178,618 $172,125 $4,950 1,468 $115.56 62.5
Month Count Mdn OL $ Mdn Sold $ Mdn OL minus S Mdn SQ FT Mdn $/SQ FT Mdn CDOM
Jan-09 93 $189,000 $175,000 $14,000 1,478 $109.86 79
Feb-09 117 $184,659 $170,500 $14,159 1,500 $110.42 98
Mar-09 143 $180,990 $164,800 $16,190 1,467 $110.06 99
Apr-09 196 $176,345 $165,088 $11,258 1,472 $101.20 78
May-09 223 $175,900 $170,000 $5,900 1,528 $106.64 93
Jun-09 252 $183,230 $174,900 $8,330 1,511 $107.34 76
Jul-09 247 $174,990 $168,500 $6,490 1,530 $105.85 61
Aug-09 211 $169,900 $162,000 $7,900 1,509 $102.96 69
Sep-09 246 $169,900 $161,550 $8,350 1,371 $108.04 86
Oct-09 262 $169,976 $160,000 $9,976 1,446 $104.57 81
Nov-09 284 $172,250 $163,450 $8,800 1,501 $107.55 70
Dec-09 185 $169,900 $164,900 $5,000 1,550 $102.42 63
2006 Mdn 2459 $175,445 $164,994 $8,575 1,501 $106.99 78.5
Month Count Mdn OL $ Mdn Sold $ Mdn OL minus S Mdn SQ FT Mdn $/SQ FT Mdn CDOM
Jan-10 116 $182,907 $171,500 $11,407 1,720 $98.27 74
Feb-10 135 $167,900 $160,700 $7,200 1,488 $102.94 90
Mar-10 229 $160,000 $149,900 $10,100 1,488 $100.00 88
Apr-10 267 $166,400 $154,981 $11,419 1,410 $102.06 102
May-10 301 $163,500 $150,000 $13,500 1,410 $101.46 69
Jun-10 236 $167,900 $157,854 $10,047 1,449 $101.93 63
Jul-10 105 $164,000 $149,000 $15,000 1,352 $105.09 64
Half 2010 Mdn 1389 $165,200 $152,491 $10,760 1,430 $102.00 78.5


OL = Original Listing Price
S = Condo Sold Price
Mdn - Median
CDOM = Days Property Listed on Market Until Under Contract


Source: WFRMLS (WFRMLS and condosUtah.com deem the information above reliable but not guaranteed.)

 

 

 

 

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