A Guide to the Salt Lake City Utah Real Estate Market

Over recent years, the Salt Lake Valley’s population has substantially increased, with people attracted to the area by the strong economic growth and excellent standard of living. This increase in population resulted in a high demand for Salt Lake City Real Estate and a rapid development of land in the Valley.

Today much of the northern and east bench areas are fully developed. Salt Lake City, which is located in the northern part of the valley, contains the major downtown metro area and many of the Valleys older neighborhoods. This includes the very popular and expensive Avenues area. The Avenues and Capital Hill areas are covered by zip code 84103, which is Salt Lake’s most expensive area, with a median home price of $381,000. Other notable areas include the area around the University of Utah (popular with investors because of its rental market), 9th and 9th (located at 9th South and 9th East), and Sugarhouse.

You can still purchase a new home, but unless you are prepared to pay a premium, you will need to look in the south and western parts of the Valley. Draper, South Jordan, West Jordan, and West Valley City are where the new growth is located, with a large choice of new home developments.  One of these developments, ‘Daybreak’, is the largest development ever to be undertaken in Utah, and is unlike anything else on offer. The homes in Daybreak are styled similar to homes found in some of Salt Lake’s older neighborhoods, with porches, bright colors and garages tucked out of site around the rear of the properties. Along with old style homes come new style facilities. Tennis courts, soccer fields, basketball courts, swimming pool, two schools, village center, and a 35 acre lake are just some of the facilities on offer. 

The Valley’s other main new home development is called Suncrest and is located in the south part of the valley, perched on top of South Mountain. Here you are located above the inversion and the homes come with magnificent views.

Until recently, the downtown Salt Lake area was not a popular place to live, and those that wanted to live downtown had limited options. Now driven by a major redevelopment of the downtown area, numerous SLC condominium, and loft developments have appeared. If you are in the market to buy Salt Lake City Condos, the choices are wide and varied. New developments such as Palmer Count, Metro, and Marmalade have added to the choice of older developments such as American Towers, and Pierpont Lofts.
    
The Salt Lake Utah Real Estate market offers something for everyone, from downtown trendy living, groundbreaking new home developments, and historic homes in older neighborhoods.

This article was provided by Trela Bird, who provides residential real estate services for buyers, and sellers of Salt Lake and Park City Utah Homes.