The Real Estate Market in Salt Lake City - Is the
Worst Really Over?
There is a lot of anecdotal evidence bouncing around the web between real estate agents that the
bottom of the barrel has come and gone in Salt Lake City.
Everyone wants to believe that...
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The Real Estate Market in Salt Lake City - Is the
Worst Really Over?
There is a lot of anecdotal evidence bouncing around the web between real estate agents that the
bottom of the barrel has come and gone in Salt Lake City.
Everyone wants to believe that better times
are just around the corner, but rumors abound that the property values could dip another 30% before
the worst is over.
What s more, a market glutted with inventory and full of foreclosures and short sales
is driving down property values all throughout the Salt Lake area.
According to one real estate agent quoted in Realty Times Market Conditions, Salt Lake saw a decline of
home sales of about 26% between 2007 and 2008.
As of March 2009 there were 8,372 residential
homes for sale in Salt Lake County.
The median price was $284,400 and the average list price was
$385,217.
There is simply too much inventory for the number of home buyers.
People are cautious to buy and also cautious to sell.
In the New York Times articl
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