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Million Dollar Properties on the Utah Market

July 27, 2007


Where is the million dollar real estate market in Utah? A recent study conducted by luxuryhomeutah.com, using data from the Wasatch Front Regional Multiple Listing Service (WFRMLS) examined the number of residential properties that posted an activity on the MLS over the past year. The real estate activities measured in the study include active residential listings, listings under contract, expired listings and sold listings.

Salt Lake County is the leading million dollar market over the past year with 957 recorded real estate activities priced at $1,000,000 or more. Summit County places second with 570. The leading million dollar real estate city in Utah is Park City with 504 posted million dollar real estate activities. Salt Lake City is second with 353, followed by Draper with 214 and Sandy at 165.
 
Park City also had the highest dollar value posted real estate activity at $25 million. This listing expired without selling. Park City currently has the highest dollar value listing active on the market at $23 million, two million less than the property that failed to sell.

The study examined data 365 days back from July 27, 2007. Several counties in Utah were omitted from the study due to lack of data. There are a few double counts due to listings that expire and are subsequently re-listed. Some of the county and city data may not be accurately reflected in the WFRMLS numbers, particularly if they are not part of the Wasatch Region.

The chart below displays the ranked results of the study. Counties are highlighted in yellow:
 
Rank Real Estate Market # Million $ Real Estate Activities
1 Salt Lake County 957
2 Summit County 570
3 Park City 504
4 Salt Lake City 353
5 Utah County 334
6 Draper 214
7 Sandy 165
8 Davis County 146
9 Wasatch County 92
10 Holladay 83
11 Washington County 82
12 Provo 77
13 Bountiful 70
14 Alpine 64
15 Highland 64
16 Saint George 53
17 Heber City 47
18 North Salt Lake 36
19 Cottonwood Heights 34
20 Bluffdale 30
21 Orem 25
22 South Jordan 22
23 Midway 21
24 Oakley 16
25 Layton 15
26 Deer Valley 15
27 Lehi 15
28 Mapleton 15
29 Herriman 14
30 Sundance 13
31 Washington 13
32 Morgan County 11
33 Cache County 10
34 Rich County 10
35 Peoa 8
36 Pleasant Grove 8
37 Springville 8
38 Weber County 8
39 Riverton 7
40 Emigration Canyon 7
41 Farmington 7
42 Kaysville 7
43 Kamas 7
44 Jordanelle 7
45 Lindon 7
46 Payson 7
47 Kimball Junction 6
48 Cedar Hills 6
49 Spanish Fork 6
50 Fruit Heights 5

Source: WFRMLS and luxuryhomeUtah.com. This information is deemed to be reliable, however WFRMLS and luxuryhomeUtah.com do not guarantee accuracy.

 

 

 

 

Links to other reports:

Million Dollar Properties on the Utah Market

Luxury Residential Property Trends

Park City Home Values Increase Over the Past Ten Years

Luxury Home Amenities & Buyer Demands

Park City and Deer Valley Luxury Home Trends (Summit & Wasatch County Trends)

Utah Luxury Condo Market

 

 

 

 

 

 

Equity Real Estate Logo

 

Barry J. Preusz
REALTOR | Luxury Property Specialist

Equity Real Estate, 1218 East 7800 South, Salt Lake City, Utah 84094

Office: 801-993-0083



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