Wasatch Front housing prices on the rise

Published: Tuesday, Jan. 29 2013 6:11 p.m. MST

According to the Salt Lake Board of Realtors, home prices in Salt Lake County showed double-digit gains in this year's third quarter.

Bill Sikes, AP

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SANDY — The number of homes sold in the final quarter of 2012 and the prices paid for those properties saw double-digit increases in most Wasatch Front counties, a new report showed.

According to the Salt Lake Board of Realtors, the median sales price of a single-family home sold in Salt Lake County jumped 14.36 percent for the three-month period to $223,000 compared with $195,000 in the fourth quarter of 2011.

Since April 2012, home prices in the Salt Lake area have risen every month year over year, the report stated.

“In spite of rising home prices, housing affordability is at near record levels,” said Dave Frederickson, president of the Salt Lake Board of Realtors. “In 2012, the median sales price of a single-family home was up 6 percent, but 80 percent of homes sold in 2012 were affordable to families earning the median income level.”

The number of single-family homes sold in Salt Lake County from October through December totaled 2,628, compared with 2,373 home sales during the same period a year ago.

More people purchased in the Kearns ZIP code of 84118 during the fourth quarter than any other area along the Wasatch Front, with 192 houses sold.

The Davis County ZIP code of 84015 in Clearfield ranked No. 2 at 179 sales, with 84404 in Farr West, Weber County, at No. 3 with 170 sales.

Overall prices during the period rose 3.25 percent in Davis County to $200,000 as sales jumped more than 18 percent. In Weber County, prices climbed 10.87 percent to $154,000 as sales increased 20 percent.

The greatest price gains were experienced in Salt Lake County. The Holladay ZIP code 84117 saw its median sales price climb more than 36 percent to $369,000. Also, sales prices in 84111 (Salt Lake City), 84115 (South Salt Lake) and 84101 (Salt Lake City) increased 25.75 percent, 32.71 percent, 52.54 percent, respectively, though all were in modest areas with prices below $200,000.

Meanwhile, the sales prices for Utah County rose 8.60 percent for the quarter to $202,000, with the number of homes sold rising slightly at 2.52 percent.

E-mail: jlee@desnews.com

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