A look at condo prices in Salt Lake City Utah | THE SALT LAKE CITY UTAH REAL ESTATE BLOG

A closer look at Salt Lake condo prices

Filed Under Salt Lake condos, salt lake city real estate |

A few days ago, a local agent told the Deseret News that condo prices in Salt Lake City surged up in 2007. This piqued my curiosity, so I went and pulled some condo sale numbers for the past few years to see the numbers for myself. It is interesting, so I’ll share. These are numbers from Salt Lake County only.

Yes it’s true that prices have risen. Just look at how many more sold in the $750+ range in 07-08 than in previous years. But there are still plenty of affordable condos out there.

When you read the paper you usually see the brand new, fully upgraded complexes, and you are led to believe that that’s all there is anymore. Quite to the contrary, the price ranges with the highest numbers of solds are $120-139,900, $140-$159,900, and $160-179,900. If I were looking for a condo, those numbers would seem pretty reasonable to me.

If you are being drawn to certain parts of the “new” downtown, expect to pay more because those condos will be new and in high demand. City living is very attractive to many people, and downtown living will prosper as a result. In addition, other select areas that claim to offer “sophisticated living” will carry a more “sophisticated” price tag, read: more $$$. But alas, if you are more flexible in your choice of residence, you can find a price range that is right for you.
Just please don’t think that you must resort to renting because you have no other options. I have nothing against renting, unless you are perfectly qualified to buy but you choose to rent instead.

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