Looks like home prices in the 1st quarter of 2010 increased slightly from the 4th quarter of 2009. The number of sold units was down from the 4th quarter 2009, but slightly higher than the 1st quarter of 2009. The number of listings also increased from the 4th quarter of 2009, which saw the lowest level in at least 6 years. Interest rates are still low, and the tax credit will probably keep home sale steady through the 2nd quarter of this year.

Home and condominiums sales increased sharply for the 4th quarter of 2009 compared to the 4th quarter of 2008. Salt Lake County saw a 40% increased in the number of units sold, according to the Wasatch Front Multiple Listing Service.  Prices were still drifting lower, down 8% from 4th quarter  2008.

In the next few days I will be posting the forecast for 2010.

The following graph show the quarterly statistics for Salt Lake County real estate.

Single Family

Condominiums

The number of condominium sales have risen sharply in the 2nd quarter of 2009 as well as median sales prices.  Prices for condominiums are almost back to pre-market correction prices! Single family numbers have risen in the 2nd quarter, but median prices are still drifting lower.

We should have 3rd quarter statistics which will be interesting to see. Check back soon!

This report was generated automatically by the Wasatch Front Regional MLS on 07/23/2009 at 02:57 PM

The Salt Lake Board of Realtors just release the sale numbers for April 2009. Here is their press release:

26 May 2009 (Sandy) – The Salt Lake Board of REALTORS® said today that existing home and condominium sales in Salt Lake County in April climbed 16 percent over March sales. Sales were down 17 percent compared to April 2008.

In April, there were 844 homes and condos sold in Salt Lake County compared to 730 sales in March. In April 2008 there were 1,018 homes and condos sold.

The median price of homes and condos sold in April was $220,000, down 1 percent from $222,200 in March and down 6 percent compared to a median price of $234,900 in April 2008.

The median sales price of all homes and condos sold in Salt Lake County peaked in June 2007 at $243,700. When compared to April 2009, the median sales price has fallen 10 percent.

Read complete text here.

According to Altos Research, an online statistical graphing company, the median price for homes in Salt Lake City has stabilized during the month of May 2009. See the following graphs below:

The median price per square foot is also stabilizing:

Average days on Market has increased slightly, but still lower than it was the latter part of 2008:

Inventory of homes on the market has come down from a few months ago:

According to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI) the nationwide housing affordability jumped 10% during the first quarter of 2009, the highest level since the series began 18 years ago. The HOI showed that 72.5% of all new and existing homes sold in the first quarter  of the year were affordable to families earning the national medium income of $64,000. The affordability index for the first quarter of 2008 was just 53.8%.

See entire article here: Housing Affordability Surges to Highest Level in 18 Years | RISMedia