2008 Annual Salt Lake County Home Prices
Summary of how the Salt Lake County Utah housing market performed in 2008.
2008 Annual Housing Market Update
2008 was a tricky year for real estate in Salt Lake County. The housing slowdown, which started towards the end of 2007, extended throughout 2008, putting ever-increasing pressure on home prices. The slowdown in homes sold caused an increase in the homes for sale inventory, which in turn caused the average time taken to sell a home to jump to 65 days (it was 39 in 2007). The new median home price for a single-family home in 2008 declined to 3.71% to $240,000, which does not seem that bad when considering the declines seen in other U.S. real estate markets.
Even with all the bad news, some areas in Salt Lake County still managed to increase their median home price. Condo home prices held out a lot better than single family homes, with 13 zip codes seeing the condo median price increasing and just four zip codes seeing single family home prices increase.
| Zip Code | City | Property Type | Median Price | Percentage Change |
|---|---|---|---|---|
| 84020 | Draper | Single Family | $380,950 | up 6.29% |
| 84020 | Draper | Condo | $205,675 | down 14.27% |
| 84044 | Magna | Single Family | $169,950 | down 2.69% |
| 84044 | Magna | Condo | $114,300 | up 3.91% |
| 84047 | Midvale | Single Family | $220,000 | No Change |
| 84047 | Midvale | Condo | $145,000 | down 3.33% |
| 84065 | Riverton | Single Family | $315,000 | down 7.08% |
| 84065 | Riverton | Condo | $198,450 | down 3.67% |
| 84070 | Sandy | Single Family | $229,250 | down 3.27% |
| 84070 | Sandy | Condo | $177,250 | down 13.54% |
| 84084 | West Jordan | Single Family | $220,000 | down 3.30% |
| 84084 | West Jordan | Condo | $172,000 | down 1.71% |
| 84088 | West Jordan | Single Family | $254,900 | down 5.59% |
| 84088 | West Jordan | Condo | $189,000 | down 0.53% |
| 84092 | Sandy | Single Family | $367,000 | down 7.78% |
| 84092 | Sandy | Condo | $418,625 | N/A |
| 84093 | Sandy | Single Family | $318,750 | down 8.38% |
| 84093 | Sandy | Condo | $270,750 | N/A |
| 84094 | Sandy | Single Family | $249,950 | down 1.09% |
| 84094 | Sandy | Condo | $220,000 | up 2.56% |
| 84095 | South Jordan | Single Family | $353,490 | up 0.42% |
| 84095 | South Jordan | Condo | $209,900 | down 2.37% |
| 84096 | Herriman | Single Family | $296,000 | down 0.73% |
| 84096 | Herriman | Condo | $187,750 | down 0.23% |
| 84101 | Salt Lake City | Single Family | $164,250 | N/A |
| 84101 | Salt Lake City | Condo | $299,900 | down 0.03% |
| 84102 | Salt Lake City | Single Family | $259,900 | down 3.36% |
| 84102 | Salt Lake City | Condo | $171,900 | down 2.05% |
| 84103 | Salt Lake City | Single Family | $375,000 | down 3.23% |
| 84103 | Salt Lake City | Condo | $197,900 | up 10.17% |
| 84104 | Salt Lake City | Single Family | $141,030 | up 2.94% |
| 84104 | Salt Lake City | Condo | $75,000 | up 7.14% |
| 84105 | Salt Lake City | Single Family | $274,614 | down 8.16% |
| 84105 | Salt Lake City | Condo | $249,950 | N/A |
| 84106 | Salt Lake City | Single Family | $249,700 | down 5.77% |
| 84106 | Salt Lake City | Condo | $164,900 | down 5.77% |
| 84107 | Murray | Single Family | $219,900 | down 9.09% |
| 84107 | Murray | Condo | $133,000 | up 3.91% |
| 84108 | Salt Lake City | Single Family | $387,000 | down 7.53% |
| 84108 | Salt Lake City | Condo | $308,500 | up 9.53% |
| 84109 | Salt Lake City | Single Family | $306,000 | down 6.92% |
| 84109 | Salt Lake City | Condo | $192,200 | down 41.22% |
| 84111 | Salt Lake City | Single Family | $182,500 | up 1.45% |
| 84111 | Salt Lake City | Condo | $197,937 | up 30.22% |
| 84115 | South Salt Lake | Single Family | $175,000 | down 4.76% |
| 84115 | South Salt Lake | Condo | $156,550 | down 3.66% |
| 84116 | Salt Lake City | Single Family | $176,000 | up 5.39% |
| 84116 | Salt Lake City | Condo | $94,950 | up 3.21% |
| 84117 | Holladay | Single Family | $330,000 | down 14.29% |
| 84117 | Holladay | Condo | $147,500 | up 1.72% |
| 84118 | Taylorsville/Kearns | Single Family | $185,000 | down 2.37% |
| 84118 | Taylorsville/Kearns | Condo | $192,450 | up 53.65% |
| 84119 | West Valley City | Single Family | $170,000 | down 8.08% |
| 84119 | West Valley City | Condo | $146,000 | No Change |
| 84120 | West Valley City | Single Family | $189,900 | No Change |
| 84120 | West Valley City | Condo | $139,900 | up 0.72% |
| 84121 | Cottonwood | Single Family | $309,500 | down 5.57% |
| 84121 | Cottonwood | Condo | $220,000 | up 1.26% |
| 84123 | Taylorsville/Murray | Single Family | $234,000 | down 2.50% |
| 84123 | Taylorsville/Murray | Condo | $141,750 | up 5.08% |
| 84124 | Holladay | Single Family | $338,400 | down 6.91% |
| 84124 | Holladay | Condo | $201,500 | down 1.56% |
| 84128 | West Valley City | Single Family | $206,000 | down 0.73% |
| 84128 | West Valley City | Condo | $164,900 | down 0.93% |