Rose Park 2nd quarter 2010 real estate sales

One of the most resilient neighborhoods in Salt Lake City bounces back this quarter with a median price of $156,000.  Aside from last quarter, the prices have been rising here for the last year.  The number of home sales are up as well, at 25.  The peak value for this area was $174,000 in the third quarter of 2007, so values have not tumbled as dramatically as other parts of the valley.
Rose Park sales 2007-2010 2nd qt
Rose Park sales 1996-2010 2nd qt

Using sales data from the previous six months gives an absorption rate of 6.7 homes per month which gives a theoretical inventory of 7.7 months.  This is approaching a balanced market (6 month supply).

Map of Rose Park neighborhood Salt Lake City

View Map of the Rose Park neighborhood Salt Lake City in a larger map

Rose Park 1st quarter 2010 real estate sales

Current median price of $145,000

Only 12% of the peak.  Holding its own against the east side.  And look at that long term growth.

This near to downtown neighborhood really held its own during the last year.  For this graph, I used the more traditional Rose Park boundaries of 600 North to 1700 North and 900 West to Redwood.  An amazing price point for a location this close to downtown.
Rose Park 1st qt 2009-2010
Rose Park 1st qt 1996-2010