The market in Salt Lake City, Utah, is still underpriced, with median sales prices coming in near $319,000.
The city has seen an appreciation rate around 15 percent -- with many homes seeing multiple offers on the negotiating tables.
What does this mean for buyers?
One local expert reports, "There is a lot of inventory out there. ... The big thing is that list prices are higher and you will need to negotiate to get to the "correct" price."
There is strong buyer demand at this time, meaning buyers may have to compete against each other for the most desired homes.
The average sales price of a home in Salt Lake City is $448,959, with a market time of 42 days.
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Published: July 27, 2007
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