SLC Utah Homes for Sale

Salt Lake City, Utah's Capital, offers a large selection of real estate options. As one of the nations most recent leaders in growth and real estate apprecation, the Salt Lake Housing market has boomed the past three years. Salt Lake has experienced new construction, condo conversions, and huge development creation in the outlying areas. In the third quarter of 2004, the average price of SLC homes sold was less than $191,000. The average sales price of a Salt Lake County house in the third quarter of 2007 was $284,000. That's appreciation of 33% in just three years. Since the third quarter of '07, the Salt Lake housing market has shifted. Home sales have substantially declined to almost half the amount they were last year. Inventory remains high and sellers are having to slash prices to sell. It's a buyers market in SLC. The link below will give you access to SLC MLS home listings with pictures, market trends, property descriptions, school information, and more.

Search for homes in the Salt Lake City MLS

Salt Lake Real Estate Market

The Salt Lake Real Estate Market boomed as the economy grew, and many out of state residents moved to Utah to find more affordable housing. A big influx of people moving from California, Nevada, and Arizona cashed in on their housing boom and bought much more affordable real estate in Utah. In addition, with the decline of these real estate markets, many real estate investors and developers came to SLC. They built and bought all kinds of lots, houses, condos, multi-family homes, rental properties, duplexes, triplexes, fourplexes and Apartment Complexes. There was especially a large boom in mcmansions, and overly large, high end homes built by speculators. With the quickly appreciating market, these investors made hundreds of thousands just by building and selling. Mortgage Schemes, and Fraudulant lending also added to this housing appreciation and artificial appreciation. Now, the housing boom has ended, and there are many of these high end homes still on the market in Salt Lake. Many of these properties have already drastically dropped their prices, and will end up in foreclosure.

SLC Multi Family Properties

With the decline in houses sold in Salt Lake, rents have been on the rise. Many buyers aren't able to buy with the current prices. Now might be a great time to invest in multi-family properties: duplexes, triplexes, fourplexes and apartments. In Salt Lake City, Duplexes have a median list price of $254,950, just $127,475 per unit. Fourplexes are even less expensive at $345,000, just $86,250 per unit. Compare this to the median list price of $299,000 for a SLC single family house for sale.

Salt Lake City Condos for Sale

Not surprisingly, Salt Lake City has more condominiums, townhouses, and lofts than any other Utah City. As the urban center of Utah, and home of the University of Utah, there is a strong demand for more condensed housing. Salt Lake even has large skyrise style condominium complexes downtown. Click this link for more info about SLC condos, click this link to search MLS listings of SLC Condominiums and Townhomes.