You probably know that home prices in the Salt Lake Valley are going up and up, and that a booming demand has outgrown what the Utah market has to offer.
That leads to some obvious questions. Potential homebuyers may wonder what types of homes fit into their budgets, especially if they are willing to move to another area. If you are a homeowner, how have the rising sale prices affected your property values?
Home prices throughout the metro area are rising, but every ZIP code is different. So with that in mind, we offer a look at six homes around the Wasatch Front, each listed around the latest median home price in its ZIP code, according to data from the Salt Lake Board of Realtors.
Why the median home price? It is a commonly used indicator for the housing market — half the houses on sale are above this price, and the other half are below. And how the median home price trends is usually an indicator of a hot or cold market. In Utah, let’s call it warm. The trend in the state is for housing prices to continue to climb but not at the fast pace of recent years.
If you are not looking for homes in the six ZIP codes we looked at, check out the median home prices in other Wasatch Front areas in this Salt Lake Tribune home prices database. The lowest median price for the first quarter this year was $225,000 in Marriott-Slaterville in Weber County, ZIP code 84401. Homes in ZIP code 84108, which includes the east bench and Emigration Canyon neighborhoods in Salt Lake City, have the highest median price at $657,000.
We asked Gary Howard, an associate broker at the Berkshire Hathaway Home Service-Utah Properties, to help make the selection, with an eye toward offering a broad look around the valley. Homes on sale that are close to the median price are not available sometimes, Howard said, so he had to widen the price range in some cases to include more homes. Howard is not the listing agent for any of the six homes.
To select homes that are most representative of each area, Howard calculated the average square footage and the number of bedrooms, bathrooms and garages among all sold properties in the past few months and selected the closest match. Houses within the same price range also can vary due to the condition, location and size of the structure, even within the same ZIP code, he said.
Salt Lake City — 84104 — median price: $237,500
Address: 1219 W. Mead Ave.
Listing price: $242,000.
This Glendale home, across the street from Parkview Elementary, was built in 1949. It is 1,088 square feet and comes with three bedrooms, 1½ baths, a family room, a den, a recently remodeled kitchen and a living room with hardwood flooring. A barn with storage space stands in the backyard next to the carport. The house does not come with a garage but does provide space for RV parking.
Tooele — 84074 — $270,000
Address: 707 Fox Run Drive.
Listing price: $280,000.
The 2,252-square-foot rambler-style home in Tooele was built with a vaulted ceiling in 2002. The house has four bedrooms, three baths, a family room, a kitchen with a bar, a two-car garage and space for RV parking. The nearly finished basement includes the washer and dryer and space for storage. It is not far from Tooele’s Main Street and schools.
Bountiful — 84010 — $350,750
Address: 37 E. 1200 South.
Listing price: $344,900.
With an asking price slightly below the median value, the rambler-style house built in 1952 is a tad more spacious than the average homes in the same price range. The 2,478-square-foot brick house comes with three bedrooms and two baths. It has two sitting rooms, separately located on each floor, with a kitchenette next to the one downstairs. The main floor family room opens to a patio with wheelchair access, which connects to a backyard shaded by trees. The home also includes a one-car garage and space for RV parking.
Lehi — 84043 — $379,700
Address: 570 W. 1100 South.
Listing price: $380,000.
The two-story home in Lehi built in 2003 is close to Pioneer Crossing and Interstate 15. The 2,513-square-foot house has three upstairs bedrooms, 2½ baths, a family room and two dens with an open floor plan. The master bedroom has a separate tub and shower. The backyard has space for a trampoline as well as RV parking. A two-car garage is also attached to the house.
South Jordan — 84095 — $449,500
Address: 2574 W. Rustic Meadows Circle.
Listing price: $450,000.
The rambler-style South Jordan home is located within a cul-de-sac, with both Monte Vista Elementary School and South Jordan Middle School within walking distance. The 2,713-square-foot home built in 1978 has five bedrooms, 3½ baths, two family rooms, a kitchen with a bar and a semiformal dining area with laminate flooring. The house also comes with a two-car garage and RV parking.
Salt Lake City — 84103 — $592,000
Address: 371 N. Wall St.
Listing price: $579,900.
Sitting in the historic neighborhood on Wall Street adjacent to the state Capitol, the century-old, two-story home was rebuilt to include new wiring, plumbing, appliances and other features. The 1,743-square-foot house now has two bedrooms, 1½ baths, a living room with a fireplace, a family room, a den and a kitchen with a bar and dining room. The kitchen hallway stretches out to an open backyard patio. There’s a second washer and dryer in the house’s unfinished basement. A two-car garage is detached from the house.
