Salt Lake County Prices 4Q 2008
Summary of how the Salt Lake County Utah housing market performed in the fourth quarter 2008.
4th Quarter 2008 Housing Market Update
With the downturn in the economy and the already slow housing market, home prices in Salt Lake County continued to stuggle in the 4th quarter 2008. Most areas suffered declines in their median home price, with five areas seeing double digit decreases. The more expensive areas in Salt Lake seemed to suffer more than the others, with 84092 (Sandy) down 16.31%, 84093 (Sandy) down 21.96%, 84103 (Avenues area of Salt Lake) down 15.95%, and 84117 (Holladay) down a massive 28.84%. This reflects what is currently going on in the market, with any homes above $250,000 really stuggling to sell. The downtown Salt Lake City condo market until recently had withstood the general housing slowdown, but now it has all but ground to a halt, with only three condo sales in the entire quarter.
There were some bright points, 84102 (Univercity of Utah area) saw both single family homes (up 3.77%) and condo prices (up 6.95%) increase compared to the same time last year.
| Zip Code | City | Property Type | Median Price | Percentage Change |
|---|---|---|---|---|
| 84020 | Draper | Single Family | $373,000 | down 4.53% |
| 84020 | Draper | Condo | $217,104 | down 1.76% |
| 84044 | Magna | Single Family | $162,250 | down 4.53% |
| 84044 | Magna | Condo | $131,773 | N/A |
| 84047 | Midvale | Single Family | $208,900 | down 5.86% |
| 84047 | Midvale | Condo | $138,750 | down 7.50% |
| 84065 | Riverton | Single Family | $319,000 | down 1.85% |
| 84065 | Riverton | Condo | $201,500 | down 2.07% |
| 84070 | Sandy | Single Family | $216,000 | down 5.68% |
| 84070 | Sandy | Condo | $199,610 | up 17.49% |
| 84084 | West Jordan | Single Family | $215,000 | down 2.27% |
| 84084 | West Jordan | Condo | $179,450 | up 1.10% |
| 84088 | West Jordan | Single Family | $240,500 | down 9.16% |
| 84088 | West Jordan | Condo | $169,900 | N/A |
| 84092 | Sandy | Single Family | $340,000 | down 16.31% |
| 84092 | Sandy | Condo | N/A | N/A |
| 84093 | Sandy | Single Family | $282,500 | down 21.96% |
| 84093 | Sandy | Condo | $261,000 | N/A |
| 84094 | Sandy | Single Family | $238,500 | down 3.73% |
| 84094 | Sandy | Condo | $230,250 | N/A |
| 84095 | South Jordan | Single Family | $331,000 | down 2.36% |
| 84095 | South Jordan | Condo | $197,175 | down 15.56% |
| 84096 | Herriman | Single Family | $281,000 | down 4.06% |
| 84096 | Herriman | Condo | $167,900 | down 11.63% |
| 84101 | Salt Lake City | Single Family | N/A | N/A |
| 84101 | Salt Lake City | Condo | $385,000 | N/A |
| 84102 | Salt Lake City | Single Family | $275,000 | up 3.77% |
| 84102 | Salt Lake City | Condo | $177,000 | up 6.95% |
| 84103 | Salt Lake City | Single Family | $338,450 | down 15.95% |
| 84103 | Salt Lake City | Condo | $186,900 | down 20.81% |
| 84104 | Salt Lake City | Single Family | $139,900 | up 0.65% |
| 84104 | Salt Lake City | Condo | $72,450 | N/A |
| 84105 | Salt Lake City | Single Family | $268,000 | down 5.60% |
| 84105 | Salt Lake City | Condo | N/A | N/A |
| 84106 | Salt Lake City | Single Family | $237,000 | down 9.20% |
| 84106 | Salt Lake City | Condo | $147,000 | down 18.90% |
| 84107 | Murray | Single Family | $215,000 | down 7.33% |
| 84107 | Murray | Condo | $140,250 | up 2.37% |
| 84108 | Salt Lake City | Single Family | $392,000 | up 2.48% |
| 84108 | Salt Lake City | Condo | $335,500 | N/A |
| 84109 | Salt Lake City | Single Family | $267,400 | down 4.16% |
| 84109 | Salt Lake City | Condo | $188,000 | N/A |
| 84111 | Salt Lake City | Single Family | $169,744 | down 4.85% |
| 84111 | Salt Lake City | Condo | $183,950 | up 36.26% |
| 84115 | South Salt Lake | Single Family | $168,750 | down 0.94% |
| 84115 | South Salt Lake | Condo | $165,000 | down 1.93% |
| 84116 | Salt Lake City | Single Family | $169,950 | No Change |
| 84116 | Salt Lake City | Condo | $93,250 | up 1.63% |
| 84117 | Holladay | Single Family | $285,500 | down 28.84% |
| 84117 | Holladay | Condo | $149,000 | down 14.37% |
| 84118 | Taylorsville/Kearns | Single Family | $179,400 | down 1.16% |
| 84118 | Taylorsville/Kearns | Condo | $99,000 | N/A |
| 84119 | West Valley City | Single Family | $159,900 | down 14.49% |
| 84119 | West Valley City | Condo | $142,500 | down 4.26% |
| 84120 | West Valley City | Single Family | $171,000 | down 8.02% |
| 84120 | West Valley City | Condo | $240,399 | N/A |
| 84121 | Cottonwood | Single Family | $274,950 | down 7.80% |
| 84121 | Cottonwood | Condo | $255,000 | down 14.00% |
| 84123 | Taylorsville/Murray | Single Family | $234,000 | down 7.92% |
| 84123 | Taylorsville/Murray | Condo | $140,000 | down 2.27% |
| 84124 | Holladay | Single Family | $397,500 | up 12.77% |
| 84124 | Holladay | Condo | $139,000 | N/A |
| 84128 | West Valley City | Single Family | $201,250 | down 2.90% |
| 84128 | West Valley City | Condo | $163,800 | N/A |