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

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.

map of the 15th & 15th neighborhood Salt Lake City

View 15th & 15th neighborhood Salt Lake City in a larger map

15th & 15th 1st quarter 2010 real estate sales

Current median price of $400,000.

This Salt Lake neighborhood really took off when people discovered the vintage homes surrounding some of the best restaurants in the city.  Not to mention two choices for coffee and one of the last independent bookstores.

Wow! Check out the upturn here. There were several “healthy” home sales in this neighborhood recently that helped boost the apparent values.  I will be looking forward to the 2nd quarter numbers to see if this is a statistical anomaly or not.  Note that I purposefully omitted sales on the very busy streets of 1300 South, 1700 South and 1300 East.  I felt in such a small neighborhood that they would skew the results.
15th & 15th 1st qt 2009-2010
15th & 15th 1st qt 1996-2010