October Home Sales in Salt Lake were down more than 20% compared to October of 2007 when 1,023 residential properties were sold. The average price of homes sold was also down in Salt Lake County by 2.8%, at $264,720. The median price of homes sold in the last month was $234,000.
There are currently 8,372 residential homes for sale in Salt Lake County. The median price of these listings is $284,400 and average list price at $385,217. List prices of homes is still substantially higher than what homes are selling for. The number of total active listings has slightly dropped but the ratio of homes sold per month to active listings is decreasing. At Octobers home sales pace, Salt Lake County has more than a years worth of inventory.