Now is a terrific time to invest in a condominium in Salt Lake City. There have been numerous projects built recently and while Salt Lake City is growing, it's just not quite at the rate as in previous years.  The inventory of condos gives you plenty of options when choosing one.

Salt Lake County condominium sales for the first quarter of 2009 are down 39% from last year to 297 units.  As similar with single family homes the sales price has not dropped to the level you would imagine the average sales price is $180,300 which is down 9%.  Here is a view of the major areas in town:

Area                                          Units Sold            % Chg                    Avg Price             %Chg

Salt Lake City                                  125                 -28%                      $178,400            -21%

Murray/Midvale                                  30                 -47%                      $156,600              -4%

West Valley City/Magna                   31                 -33%                      $136,200              +3%

West Jordan                                      27                  -46%                      $175,700              -4%

Draper                                                18                  -33%                      $208,100              -10%

Cottonwood Ht/Holladay                 20                 -35%                      $218,800              -7%

Although prices haven't dropped, the amount of inventory should assure you that sellers are quite negotiable.

There is a lot of free information available to you about buying, selling or investing in Salt Lake City real estate. For complete information about the Salt Lake City real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything Salt Lake City real estate at www.BuySaltLakeHomes.com. So please feel free to contact me with any of your mortgage questions and I will me more than glad to answer you queries. Call me on my cell at 801-518-4599 or email me at KathyO@KathyOHomes.com.

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