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

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.

Map of the 9th & 9th neighborhood Salt Lake City

View 9th & 9th neighborhood Salt Lake City in a larger map

9th & 9th neighborhood 1st quarter 2010 real estate sales

Current median price of $253,000.

A very small neighborhood yields data points, so the number of homes sold (red line) appears to be all over the place.  A home purchased here five or six years ago is still looking pretty darn good.

Not enough data points (sales) to really draw any big conclusions for the last year other than a general leveling out of sales price.  This area of town still has a lot going for it and should be one of the first to show recovery.
9th & 9th 1st qt 2009-2010
9th & 9th 1st qt 1996-2010