Home sales throughout Utah held up well in the first quarter, reports the Utah Association of Realtors.
"Despite the gulf war and concerns about the recession, many of our boards (of Realtors) experienced active sales during the first quarter," said Claudia Ashby, president of the Utah Association.Ashby said that even in those areas where sales declined average selling prices held firm or increased. Here's how the various areas fared in January, February and March:
SALT LAKE CITY - The Salt Lake Board of Realtors reported a 13 percent increase in sales of single-family homes in the first quarter compared to the same period last year. Average selling price was $83,868 with buyers using a variety of financing methods, including FHA, conventional and mortgage assumptions.
UTAH COUNTY - The Utah County board reported sales of 267 single-family homes with an average selling price of $76,230. "The good news is that real estate is selling, the bad news is that listing inventories are down," said Gary Tate, president of the Utah County board. New listings in January showed a 24 percent decrease from the same period in 1990.
NORTHERN UTAH - The Brigham/Tremon-ton Board of Realtors reported a 7 percent increase in sales of single-family homes in the first quarter over the same period in 1990. Average selling price of homes was $58,969. FHA was the most commonly used financing.
The Logan board also saw a sales increase in the first quarter, up 1 percent over the first three months of 1990. Average selling price was $68,814 with buyers using FHA and conventional financing.
TOOELE - The Tooele County board sold 24 single-family homes in the first quarter, down from 42 in the same period a year earlier. Average selling price was $55,814 with VA and FHA financing used by most buyers.
PARK CITY - The Park City board reported 40 sales of single-family homes in the first quarter, down from 51 for the period a year ago. Average selling price was $237,986, up from $218,699 in the same quarter last year.
Condominium sales were down even more in Park City, 49 sales compared to 126 in the same three months of 1990. But, again, the average selling price was up this year, from $153,081 in first-quarter 1990 to $156,648 this year.
Park City board president Richard Dudley said his group expects condo sales to be down 10 percent this year due to the flagging economies in Southern California and the East Coast - major markets for Park City condo sales.
WASATCH COUNTY - The Wasatch County board in Heber City reported 11 sales for the first quarter, down from 12 a year earlier. Average selling price was $62,716 with cash and conventional financing used most often.
UINTAH BASIN - In Roosevelt the board reported 52 sales in the first quarter, down from 96 a year earlier. Average selling price was $34,037 with cash and FHA used by most buyers.
CARBON/EMERY - The board in Price reported a 65 percent increase in first quarter sales, 43 compared to 15 a year ago. Average selling price was $52,092 with FHA financing used most often.
CENTRAL UTAH - The Central Utah board in Richfield reported 27 sales in the first quarter with no comparison data available for 1990. Average selling price in the first quarter was $45,924.
In Cedar City, the Iron County board said sales were up 7 percent but sales numbers were not made available. Average selling price was $59,284.
SOUTHERN UTAH - The Washington County board reported 182 sales of single-family homes in the first quarter but sales from last year were not available. Average sales price was $81,702 with most buyers paying cash.