Salt Lake County Home Prices 1Q 2015
Summary of how the Salt Lake County Utah housing market performed in the 1st quarter 2015.
1st Quarter 2015 Housing Market Update
After showing signs of slowing over the last few quarters, the 1st quarter 2015 showed more signs of an accelerating Salt Lake County market rather than a slowing one. Some of this can be put down to the mild winter, but there were other things driving the market. One of these was the ever shrinking inventory levels, which currently stands at just 1.3 months’ supply. A lower inventory level drives competition among buyers, which in turn puts upward pressure on prices.
The median home price for a single family home climbed 3.83% to $255,000. There were 2,528 homes sold, (increase of 15.17%), with a median number of days on market of 41 (a decline of 21.15%).
The condo market performed even better. On the back of strong sales (360 condos sold up 26.32%) the median sales price climbed 8.17% to $159,800. The median days on market did weaken slightly, climbing 3.70% to 56 days.
| Zip Code | City | Property Type | Median Price | Percentage Change |
|---|---|---|---|---|
| 84020 | Draper | Single Family | $417,500 | up 5.03% |
| 84020 | Draper | Condo | $175,000 | N/A |
| 84044 | Magna | Single Family | $164,000 | up 6.91% |
| 84044 | Magna | Condo | $99,000 | N/A |
| 84047 | Midvale | Single Family | $215,250 | down 3.80% |
| 84047 | Midvale | Condo | $150,900 | up 15.63% |
| 84065 | Riverton | Single Family | $310,000 | No Change |
| 84065 | Riverton | Condo | $249,000 | N/A |
| 84070 | Sandy | Single Family | $224,750 | down 1.40% |
| 84070 | Sandy | Condo | $155,500 | up 4.10% |
| 84084 | West Jordan | Single Family | $208,500 | up 1.21% |
| 84084 | West Jordan | Condo | $148,000 | N/A |
| 84088 | West Jordan | Single Family | $238,450 | down 1.06% |
| 84088 | West Jordan | Condo | $230,000 | N/A |
| 84092 | Sandy | Single Family | $322,450 | down 19.39% |
| 84092 | Sandy | Condo | $1,215,000 | N/A |
| 84093 | Sandy | Single Family | $310,000 | down 2.44% |
| 84093 | Sandy | Condo | $277,000 | N/A |
| 84094 | Sandy | Single Family | $242,000 | up 0.88% |
| 84094 | Sandy | Condo | $130,000 | N/A |
| 84095 | South Jordan | Single Family | $370,557 | up 5.90% |
| 84095 | South Jordan | Condo | $164,000 | down 5.20% |
| 84096 | Herriman | Single Family | $299,350 | down 1.85% |
| 84096 | Herriman | Condo | $168,000 | N/A |
| 84101 | Salt Lake City | Single Family | $212,000 | N/A |
| 84101 | Salt Lake City | Condo | $232,000 | up 16% |
| 84102 | Salt Lake City | Single Family | $278,000 | up 23.56% |
| 84102 | Salt Lake City | Condo | $192,000 | up 17.25% |
| 84103 | Salt Lake City | Single Family | $392,000 | up 14.20% |
| 84103 | Salt Lake City | Condo | $186,000 | up 7.36% |
| 84104 | Salt Lake City | Single Family | $150,000 | up 20% |
| 84104 | Salt Lake City | Condo | $51,000 | N/A |
| 84105 | Salt Lake City | Single Family | $315,000 | No Change |
| 84105 | Salt Lake City | Condo | No Sales | No Sales |
| 84106 | Salt Lake City | Single Family | $265,000 | down 3.36% |
| 84106 | Salt Lake City | Condo | $164,000 | down 1.20% |
| 84107 | Murray | Single Family | $228,500 | up 6.03% |
| 84107 | Murray | Condo | $140,000 | up 19.91% |
| 84108 | Salt Lake City | Single Family | $413,000 | up 3.51% |
| 84108 | Salt Lake City | Condo | $272,750 | N/A |
| 84109 | Salt Lake City | Single Family | $339,900 | up 11.44% |
| 84109 | Salt Lake City | Condo | $140,000 | N/A |
| 84111 | Salt Lake City | Single Family | $204,950 | up 5.64% |
| 84111 | Salt Lake City | Condo | $199,250 | up 1.19% |
| 84115 | South Salt Lake | Single Family | $185,000 | up 4.08% |
| 84115 | South Salt Lake | Condo | $130,000 | N/A |
| 84116 | Salt Lake City | Single Family | $161,000 | up 1.39% |
| 84116 | Salt Lake City | Condo | $75,155 | N/A |
| 84117 | Holladay | Single Family | $389,000 | up 4.43% |
| 84117 | Holladay | Condo | $119,650 | down 4.66% |
| 84118 | Taylorsville/Kearns | Single Family | $170,500 | up 7.50% |
| 84118 | Taylorsville/Kearns | Condo | No Sales | No Sales |
| 84119 | West Valley City | Single Family | $175,750 | up 12.16% |
| 84119 | West Valley City | Condo | $95,000 | N/A |
| 84120 | West Valley City | Single Family | $179,150 | up 3.86% |
| 84120 | West Valley City | Condo | $160,000 | N/A |
| 84121 | Cottonwood | Single Family | $300,000 | down 4.08% |
| 84121 | Cottonwood | Condo | $204,000 | up 10.57% |
| 84123 | Taylorsville/Murray | Single Family | $244,500 | up 9.79% |
| 84123 | Taylorsville/Murray | Condo | $115,750 | N/A |
| 84124 | Holladay | Single Family | $325,500 | down 17.18% |
| 84124 | Holladay | Condo | $218,000 | N/A |
| 84128 | West Valley City | Single Family | $194,975 | up 7.42% |
| 84128 | West Valley City | Condo | $138,500 | N/A |