The Salt Lake Board of REALTORS reported home and condominium sales in Salt Lake County during the month of June increased 5 percent compared to home sales in June 2008. During the month, 1,203 homes and condominiums were sold, up from 1,150 sales in June 2008. Home sales in June were up 20 percent compared to 1,002 sales in May.

“The increase in home sales is evidence that buyers are finding deals and renewed confidence in the market,” said Ryan Kirkham, president of the Salt Lake Board of REALTORS. “Nearly a year has passed since we have seen monthly year-over-year increases in home sales.”

The median price of homes and condominiums sold in June in Salt Lake County fell to $224,000, down 3 percent compared to a median price of $230,000 in June 2008. Since home prices peaked in June 2007 ($243,000), the median sales price has fallen 8 percent. The median price per square foot for homes sold in June was $105.02, down 14 percent compared to $121.46 per square foot in June 2008.

The median days a home was on the market before it sold was 84 days in June, up from 65 days a year ago.

Obviously, it’s too soon to predict any trend so we’ll have to see what happens in July. Stay tuned. 

DoSLC