SALT LAKE CITY -- Single-family home sales in Utah dipped slightly during second quarter 1997, according to figures released today by the Utah Association of REALTORS® (UAR) State-wide sales fell a marginal 3.13 percent compared to second quarter 1996, while home prices rose 4.59 percent during second quarter.

"Although home sales have been declining for the past three quarters, the 3.13 percent dip in second quarter actually reflects a healthy swing back for home sales," said Georgia Ball, UAR president. "First quarter 1997 sales fell 12.36 percent and those in fourth quarter 1996 dipped 8.13 percent, due primarily, we believe, to a more than two-year decline in net inmigration and an increase in inventory. The modest 3.13 percent decrease in second quarter sales shows this downward trend is slowing."

Ball further noted that although home sales are down on the average, some areas, including Central Utah, Iron County, Park City, Tooele County, and Wasatch County, reported an increase in sales.

Home prices also varied among the boards, but not as dramatically as home sales. The average price of a single-family home in second quarter 1997 was $147,805, up $6,481 or 4.59 percent, from second quarter 1996. A comparison of second quarter 1997 figures with first quarter 1997, shows a slight increase in the average home price by 2.44 percent.

In Northern Utah, the Brigham/Tremonton Board of REALTORS reported a 19.33 percent drop in sales of single-family homes in the second quarter of this year versus second quarter 1996, with an average sales price of $101,319; the Cache/Rich Association of REALTORS in Logan experienced a 3.31 percent decrease in homes sales at an average price of $114,377; and the Tooele County Board of REALTORS reported a notable 30.12 percent increase in home sales at an average sales price of $109,901. The Greater Ogden Area Association of REALTORS realized a 10.5 percent decrease in home sales at an average sales price of $121,063.

The Salt Lake Board experienced a 3.24 percent decrease in home sales, from the same period in 1996, at an average sales price of $163,349 and reported a 23.58 percent increase in condominium sales at an average sales price of $107,306.

The Carbon/Emery Board of REALTORS reported a 16 percent decrease in home sales at an average price of $79,376; the Central Utah Board reported a 19.51 percent increase in home sales during the second quarter of 1997, with an average sales price of $74,896; and the Grand/San Juan Association of REALTORS in Moab reported a 28 percent decrease in home sales with an average sales price of $104,650.

The Uintah Basin Board of REALTORS experienced 21.33 percent decrease in home sales during the second quarter, versus second quarter 1996, at an average sales price of $75,877. The Utah County Association of REALTORS reported a 6.27 percent decrease in home sales over second quarter 1996, with an average sales price of $124,974.

The Park City Board experienced a 10.22 percent increase in sales of homes at an average sales price of $370,037 and a 6.02 percent decrease in condominium sales at an average sales price of $307,259. Wasatch County reported a 45.83 percent increase in home sales (24 homes sold in 1996 compared with 35 homes in 1997) at an average sales price of $173,498.

In Southern Utah, the Washington County Board of REALTORS reported a marginal 0.46 percent decrease in home sales during second quarter at an average price of $129,248 and a 24.22 percent decrease in condominium sales at an average price of $117,554. The Iron County Board of REALTORS reported a 7.59 percent increase in homes sales at an average sales price of $99,778.

The Utah Association of REALTORS serves as "The Voice for Real Estate in Utah," representing more than 7,300 members involved in all aspects of the real estate industry.

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