The demand is there, just not the homes to sell. In places like Salt Lake City’s downtown and Central City neighborhoods, sales fell by 60% or more as depleted inventories and a regional housing shortage frustrated many would-be buyers.
Prices shot up by about 25% during the year in most Wasatch Front counties with sales plunging by 45%.| Feb. 4, 2022, 1:00 p.m.This story is available to Salt Lake Tribune subscribers only. Thank you for supporting local journalism.
Demand is there, just not the homes to sell. In places like Salt Lake City’s downtown and Central City neighborhoods, Taylorsville, portions of Lindon, Orem and Provo, and Centerville in Davis County, sales fell by 60% or more as depleted inventories and a regional housing shortage frustrated many would-be buyers.to see home prices and sales in the five-county region by ZIP code.]
“The low inventory is making such a big difference,” said Perry, noting a record dearth of active listings, also down by double digits from last year. “If you have talked to anybody lately, they all feel it,” state Rep. Steve Waldrip, R-Eden, told fellow lawmakers recently as he introduced one of a series of housing-related bills. “Every income bracket of the market is an issue that we are facing increasing pressure on.”— inched up to $1.278 million as last year closed, making it the Wasatch Front’s most expensive ZIP code.
That has pushed median condo price as high as $451,952 in Utah County’s American Fork, though the median price countywide was $378,689. Salt Lake County’s median condo price stood at $395,000, with the highest in Emigration Canyon, at about $550,000.
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