Salt Lake City Home Prices Up 11% in Third Quarter

Gay Salt Lake CityHome prices in Salt Lake County showed double-digit gains in this year’s third quarter, according to the Salt Lake Board of Realtors.

For the July-August-September period, the median single-family home price in Salt Lake County increased to $218,000, up 11 percent compared to a median price of $197,000 in the third quarter 2011. The third quarter marked the second consecutive quarterly price increase in Salt Lake County (home prices in the second quarter increased 6 percent year-over-year). It was the first time in five years that home prices increased in a third quarter.

“Salt Lake City ranks among the top 25 major U.S. cities showing the biggest home-price increases,” said Donna Pozzuoli, president of the Salt Lake Board of Realtors(R). “In fact, this year is the first time in five years Salt Lake home prices have made a comeback.”

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