Articles
3 September 2010

August Home Sales Down Compared to Last Year

by PR or News Wire

03 September 2010—

 The Salt Lake Board of REALTORS reported that existing home and condominium sales in Salt Lake County during the month of August were down 4 percent compared to home sales in August 2008.

 

In August there were 1,007 homes and condominiums that sold, a 4 percent decrease (45 fewer homes sold) compared to 1,052 sales in August 2008.

 

“Home sales in August were down slightly compared to last year, but with home prices continuing to go down and mortgage interest rates remaining at record lows, there has never been a better time to buy a home,” said Ryan Kirkham, president of the Salt Lake Board of REALTORS. “Home buyers can still take advantage of the federal government’s $8,000 tax credit.”

 

The median price of homes and condominiums sold in August in Salt Lake County fell to $218,500, down 3 percent compared to a median price of $225,000 in 2008. Since home prices peaked in June 2007 ($243,000), the median sales price has fallen 10 percent. The median price per square foot for all homes and condos sold in July was $102.97, down 13 percent compared to $117.99 per square foot in August 2008.


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