Existing home sales rise in Utah

Existing home sales across Utah were up nearly 15 percent in the three months ended Sept. 30 compared to the same quarter a year ago, according to a Friday report from the Utah Association of Realtors.

During the quarter, 10,736 homes and condominiums were sold through real estate agents at an average sales price of $189,281, an increase of 6 percent compared to the sales price in the third quarter of 2003. Excluding Park City sales, which inflate the average, the average price was $175,002.

The Cache/Rich area reported 310 units sold in the third quarter at an average price of $151,627, up from 269 units sold in the same period a year ago at an average price of $142,554.

Tooele County reported an 82 percent increase in sales, with 229 units sold at an average price of $125,690.

Washington County saw 746 homes sold, up from 536 units a year ago. The county also experienced an increase in condominium sales at 246, up from 169 units the prior year.

According to a separate report in October by the Wasatch Front Regional Multiple Listing Service, the total number of single-family homes sold in Salt Lake County during the third quarter fell slightly to 3,442 units, down from 3,456 units during the same period last year.

The average sales price of a single-family home in Salt Lake County rose to $200,724, up 3.7 percent from $193,652 in the third quarter of 2003.

The Office of Federal Housing Enterprise Oversight recently reported that Utah's house price appreciation continues to lag behind the national average as values throughout the country have experienced their strongest gains in 25 years.

Across Utah, housing prices rose 2.58 percent for the 12 months ended June 30, the lowest price appreciation of all 50 states and the District of Columbia.

---

E-mail: danderton@desnews.com