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More homes sold in July 2009 compared to July 2008

Sandy – The Salt Lake Board of REALTORS® reported Aug. 25 that home and condominium sales in Salt Lake County during the month of July increased 4 percent
compared to home sales in July 2008.

During the month, 1,094 homes and condominiums were sold, a 4 percent increase compared to 1,050 sales in July 2008. July’s increase was the second consecutive month that home sales in Salt Lake County witnessed a year‐over‐year rise. In June, home sales were up 5 percent compared to the same month a year earlier.

“Home sales continued to rebound in July,” said Ryan Kirkham, president of the Salt Lake Board of REALTORS®. “July’s strong sales are an indication that Salt Lake’s housing market is stabilizing.”

The median price of homes and condominiums sold in July in Salt Lake County fell to $221,450, down 5 percent compared to a median price of $232,648 in July 2008. Since home prices peaked in June 2007 ($243,000), the median sales price has fallen 9 percent. The median price per square foot for all homes and condos sold in July was $101.51, down 14 percent compared to $118.16 per square foot in July 2008.

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