Salt Lake City Real Estate

The Salt Lake Real Estate market is undergoing a transition from a sellers market to more of a balanced market. Over the last few years Salt Lake County Home Prices have experienced double digit gains, pushing the medium home price for a single family home up from $189,000 in 2004 to $286,000 in 2007. Over the last few months the market has started to level off, with fewer sales, Salt Lake City homes for sale staying on the market longer and the home inventory level seeing large increases. One factor that has recently impacted the market is the tightening of the criteria used to qualify people for home loans.

Even with this slowdown there are still some areas of the market that remain strong. Salt Lake Condos in the downtown area continue to show good appreciation and demand. The whole downtown area is currently undergoing a massive and some may say overdue redevelopment. Old strip malls are being demolished to make way for condo or apartment buildings. This is fueling demand for existing condo developments such as Pierpont Lofts and American Towers. The other area of the market that remains strong is for homes under $200,000. These homes are still selling quickly and in some cases multiple offers are being received within days of the home being put on the market.

If you need assistance buying or selling real estate in the Salt Lake Valley, then the expert Utah Realtors at Mcdonald Group GMAC can help you with all your needs.