Hot off the Press; 4th Quarter Salt Lake Real Estate Stats

Just released;  4th quarter real state statistics for 2008. This includes the counties of Salt Lake, Davis, Tooele, Utah, and Weber. These are provided by the Salt Lake Board of Realtors and have not been made available to the media as of this posting.

Summary of Results:

• Salt Lake County: Median Price; $239,500, down 0.17%
• Davis County: Median Price; $216,900, down 3.58%
• Tooele County: Median Price; $188,000, down 1.05%
• Utah County: Median Price; $230,000, down 2.50%
• Weber County: Median Price; $167,000, down 0.54%

These changes were significantly less compared to 3rd Quarter 2008.

What does this mean?

This shows that prices in most counties around the Wasatch Front have slowed their descent; it does not mean they have stopped going down. As I have said before, buying a home is not always about how much a homeowner can make on a home, it’s about a place to live, nest, shelter, and a place of rest. Either you are renting or you are owning. If your horizon is 3 years or more, buying is the logical choice.

Tagged as: Buyer, Davis County, home ownership, Quarterly sales, Real Estate, Real estate economics, Salt Lake Association of Realtors's, Salt Lake County Utah, Seller's, Tooele County, Utah, Utah County, Weber County