Real Estate in Salt Lake County is making good progress towards recovery. The current 6,478 residential homes for sale, is the lowest number of residential home listings in Salt Lake in more than three years.

Salt Lake Real Estate inventory is way down, despite the fact that just 550 residential homes sold during January, down 31% from strong December home sales. Compared with January of last year, home sales were up by 8.7%.

Real Estate prices in Salt Lake continue to decline. The median list price last month was $199,490, while the Average list price dropped $2,304 to $281,097. Of the homes that sold during January the average price per square foot was just $91.31. The last time real estate values were this low was April of 2005.

Prices keep getting cheaper, but it won't last forever. One really interesting thing with this months real estate statistics is that the median list price actually rose slightly. If you want a good deal, it might be a good time to start looking at Homes for Sale in Salt Lake City