Utah Association of REALTORSÒ
[Figures reflect sales reported by each Board's Multiple Listing Service]

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UTAH REALTORS® REPORT SLIGHT OVERALL DECREASE IN SALES FOR THIRD QUARTER

Murray, Utah -- The third quarter of 2000 showed an overall decrease in single-family home sales compared to the same period last year, according to figures released by the Utah Association of REALTORS® (UAR). Statewide, sales are down two percent from this quarter last year.

"While this quarter's home sales were down slightly when compared to the same period last year, overall the Wasatch Front has seen consistent increases this year in both number of homes sold and sales prices," said Mac Brubaker, UAR president. "The one exception is Utah County which has sold fewer homes year-to-date but is still experiencing price increases." Utah homes sold for an average price of $167,350, rising two percent from third quarter 1999. When excluding Park City homes, where prices tend to inflate the overall data, the state's third quarter 2000 average home price was $159,087.

"The average home price in Utah has increased $6,300 in the past six months to $159,087, excluding Park City," noted Brubaker. "The average home price in Park City continues to hover near the half million dollar mark." Regionally, the state experienced significantly more increases than decreases in average home prices. Ten boards reported price increases while four reported decreases. However, the numbers reverse on homes sold; four boards reported increases while 10 reported decreases. Grand/San Juan showed the most significant decrease in home sales with a 41 percent drop; Tooele County had the greatest increase at eight percent.

In Northern Utah, the Brigham/Tremonton Board reported a five percent increase in single-family home sales for the third quarter of 2000 versus the third quarter of 1999, with an average price of $112,809. The Cache/Rich Association experienced a five percent decline in sales volume from the same period in 1999 and an average home price of $131,499. The Greater Ogden Area Association showed a four percent decrease in sales and an average price of $145,052. Condo sales were up eight percent with an average selling price of $103,584.

The Tooele County Board experienced an eight percent increase in sales from third quarter 1999 with an average selling price of $132,037.

According to figures released by the Wasatch Front Multiple Listing Service, Salt Lake area home sales were up two percent from the same period in 1999. The average home price was $183,627. Condo sales had a more substantial gain of 10 percent with an average price of $126,809 compared to third quarter 1999.

The Carbon/Emery Board reported a 31 percent decline in sales from third quarter 1999 with an average price of $94,666, an increase of 13 percent which is the largest average home sales price gain reported for the quarter. Central Utah saw a 20 percent drop in sales with an average price of $89,530.

"The more rural areas in the southern part of the state continue to see fewer home sales this year as compared to last," said Brubaker. "For example, Carbon/Emery experienced a decrease this quarter with a year-to-date decrease of 19 percent. Overall sales prices, however, have not decreased."

Sales at the Grand/San Juan Association in Moab decreased 41 percent with homes selling for an average price of $127,489. Condo sales were level but the average sales price increased by 32 percent to $180,045. Home sales in Park City dropped 14 percent compared to third quarter 1999, according to figures released by the Park City Board of REALTORS®. Average selling price was $435,300. Condominium sales decreased by 24 percent with an average price of $304,800.

The Wasatch County Board experienced a 27 percent decrease in sales from third quarter 1999. Homes sold for an average price of $215,071. Utah County reported a 13 percent decrease in homes sales from third quarter 1999. The average sale price was $181,244. Condo sales, however, were up 18 percent with an average selling price of $114,987.

The Uintah Basin Board saw a four percent dip in sales with an average price of $99,410, down six percent from third quarter '99.

In southern Utah, the Washington County Board showed a modest two percent rise in sales at an average selling price of $159,149, a 10 percent increase from third quarter '99. Condominium sales also increased by eight percent with an average price of $112,375. Iron County saw a decrease in home sales of 14 percent. Homes there sold for an average of $113,248, an eight percent increase in home sales of 14 percent. Homes there sold for an average of $113,248, an eight percent increase from third quarter '99.

The Utah Association of REALTORS® serves as "The Voice for Real Estate in Utah," representing more than 7,800 members involved in all aspects of the real estate industry.