Utah Luxury Residential Property Trends | Salt Lake Luxury Home Trends | Summit County Million Dollar Properties News and Information
Luxury property market trends for Salt Lake, Utah, Wasatch, Davis, Summit and Weber Counties, UT - Sold, Expired, Listings, Contract

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Luxury Residential Property Trends
August 16, 2007
In a study conducted by luxuryhomeUtah.com using data from the Wasatch Front Regional Multiple Listing Service (WFRMLS), Salt Lake County has the most million dollar properties currently listed on the market for sale. As of August 16, there were 295 residential listings currently active. Summit County is second with 190 residential listings.
Homes for sale at $750,000 and above prices are having a difficult time selling. In that price range, there were 736 expired listings in Salt Lake County and 216 expired listings in Summit County over the past 225 days. During the same time period, there were 1,274 homes newly listed on the market at $750,000 or above price range for Salt Lake County. Summit County had 461 new listing in that price range. High inventory and large number of homes not selling translates into big opportunities for buyers. In this current market, luxury home buyers can choose from a great selection and make offers to eager sellers.
The chart below displays figures for residential property priced at $1 million and above within nearby counties:
Luxury Residential Properties Sold in Utah      

$1 Million Plus Residential Properties

Salt Lake Summit Utah Davis Wasatch Weber

# Current Listings on WFRMLS

295 190 142 55 36 27

# Properties Currently Under Contract

34 61 13 1 4 1

# Expired Listings Past 225 Days

344 147 109 49 30 23

# Sold Listings Past 225 Days

91 78 36 10 4 2
Source: WFRMLS and luxuryhomeUtah.com. This information is deemed to be reliable, however WFRMLS and luxuryhomeUtah.com do not guarantee accuracy.




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Barry J. Preusz
REALTOR | Luxury Property Specialist

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

Office: 801-890-3770

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