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  • Upper Avenues 2nd quarter 2010 real estate sales

    Posted on July 6th, 2010 admin No comments

    Given that last quarter’s high median price was based on only three sales, I’m going to call this quarter’s number of $515,000 more of an upward trend with 9 sales.  Take a look at the graph and see if you don’t agree.  The  median price for this neighborhood high above Salt Lake City was  $665,000 three years ago.
    Upper Avenues sales 2007-2010 2nd qt
    Upper Avenues sales 1996-2010 2nd qt

    Sales data from the last six months shows an absorption rate of 2 homes per month and an inventory to last 14 months.

  • Lower Avenues 2nd quarter 2010 real estate sales

    Posted on July 6th, 2010 admin No comments

    It looks like a definite upturn in value for this historic Salt Lake City area.  The median price is up slightly at $249,000 and with 48 sales in the last quarter that number should be pretty accurate.  Still down from a peak of $333,000 three years ago but a nice trend none-the-less.
    Lower Avenues sales 2007-2010 2nd qt
    Lower Avenues sales 1996-2010 2nd qt

    Using the previous six months of sales data gives an absorption rate of 12.5 homes per month and an inventory of 8.7 months.

  • Harvard-Yale 2nd quarter 2010 real estate sales

    Posted on July 6th, 2010 admin No comments

    It had appeared that this east side Salt Lake City neighborhood was recovering with an upturn in values last year, but this quarter’s numbers continue to slide south with a new median price of $390,000.  Sixteen homes were sold in the previous 3 months.  The peak for this area was $510,000 in the second quarter of 2008.
    Harvard-Yale sales 2007-2010 2nd qt
    Harvard-Yale sales 1996-2010 2nd qt

    The absorption rate here is 4 homes per month with an inventory of 12.5 months.  Definitely a buyer’s market.

  • Federal Heights 2nd quarter 2010 real estate sales

    Posted on July 6th, 2010 admin No comments

    Doubled in value?  Probably not, but what a wild quarter it’s been, with the graph showing a current median sales price of $1,250,000.  With only 3 sales during the previous quarter, it’s too soon to claim a huge appreciation for homes in this very exclusive Salt Lake City neighborhood.  Two of those sales were quite significant which helped push up the numbers.  The peak median price was $1.6M in the third quarter of 2007.
    Federal Heights sales 2007-2010 2nd qt
    Federal Heights sales 1996-2010 2nd qt

    Using the previous six months of sales data the absorption rate is only 1 home per month.  Don’t get in a hurry to cash in, as the inventory is now 15 months.

  • Capitol Hill 2nd quarter 2010 real estate sales

    Posted on July 6th, 2010 admin No comments

    $198,000 is the new median sold price for Salt Lakes oldest residential neighborhood.  A slight rebound from last quarter’s numbers but still down from the peak of $291,000 in the 1st quarter of 2008.
    Capitol Hill sales 2007-2010 2nd qt
    Capitol Hill sales 1996-2010 2nd qt

    Using data from the previous six months the absorption rate is 4.2 homes per month giving an inventory of 9.6 months for a buyer’s market.

  • Canyon Rim 2nd quarter 2010 real estate sales

    Posted on July 6th, 2010 admin No comments

    The sold prices are still slowly declining for this Salt Lake neighborhood.  Median sales price is now $245,000 with only 9 homes sold, down from a peak of $330,000 in the 3rd quarter of 2007.

    Canyon Rim sales 2007-2010 2nd qt
    Canyon Rim sales 1996-2010 2nd qt

    Based on sales data for the last six months, the absorption rate here is 3 homes per month which gives an inventory of 8.7 months.  A buyer’s market.

  • 9th & 9th 2nd quarter 2010 real estate sales

    Posted on July 6th, 2010 admin No comments

    By the end of June the median price in this popular Salt Lake City neighborhood had dropped again after a uptick last quarter.  The new number is $229,000.  The highest median price was set in the 2nd quarter of 2008 at $317,000.  That may have been an anomaly as most areas peaked in early 2007 when the median price would have been $305,000.
    Click here to see sales since 2007.
    Click here to see sales since 1996.

    Based on sales data for the last six months this area has an absorption rate of 2.7 homes sold per month which gives an inventory of 5.6 months.  Conventional wisdom would place this as a balanced market for the 9th & 9th.

  • 15th & 15th 2nd quarter 2010 real estate sales

    Posted on July 6th, 2010 admin No comments

    At the end of June the median sales price in this Salt Lake City neighborhood was $305,000 with 19 homes sold during the 2nd quarter.  The peak median price for this area was $404,000 in the third quarter of 2007.
    Click here for a graph showing sales since 2007.
    Click here for a graph showing sales since 1996.
    Based on sales data for the last six months the absorption rate is 4.7 homes sold per month giving an inventory of 4.3 months.  That would technically make this neighborhood a seller’s market with inventory of under 6 months.