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

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HOME SALES DECREASE SLIGHTLY DURING FOURTH QUARTER 2001
Utah Association of REALTORS® releases fourth quarter's statistics

     According to the Utah Association of REALTORS® (UAR), single-family home sales decreased three percent during the fourth quarter of 2001 in comparison to the same period last year. While most of the smaller areas experienced an increase in sales, some larger areas reported a decrease in sales, which led to a slight decrease overall.
     The average sales price for a home in Utah was $154,031, excluding statistics from Park City, which tend to inflate the average. This figure is up slightly from the average sale price of home in the fourth quarter of 2000, which was $153,745.
     "The housing market is proving to be much more resilient than most analyst expected," said UAR President, John Harr, Jr. "even amidst a recession, home sales have remained fairly steady."
     Based on sales reported by each board's Multiple Listing Service (MLS), 10 of the 14 boards reporting experienced an increase in home sales as compared to the fourth quarter of 2000.
     In Washington County, there was a 24 percent increase in the number of homes sold, and a 38 percent increase in the number of condominiums sold. The average price of a home in the area was reported at $150,618, which is three percent less than the average home price in the fourth quarter of 2000. The average price of a condominium is $103,493, down four percent from the same period in 2000.The      Carbon/Emery Board reported a 31 percent increase in the number of homes sold, with an average selling price of $98,000, and the Central Utah Board reported a 33 percent increase in home sales, with an average selling price of $101,236.
     The Grand/San Juan Association experienced a 33 percent increase in home sales and a 38 percent decrease in condominium sales. The average price of a home in the Grand/San Juan area is $112,757, while the average price of a condominium is $165,182.
     The Iron County Board reported an 18 percent increase in home sales with an average selling price of $116,320. The Uintah Basin Board reported a 7 percent increase in the number of homes sold, with the average price of a home reported to be $97,913.
     In Park City, home sales dropped 7 percent as compared to fourth quarter of 2000, and condominium sales dropped 28 percent. The average price of a home in Park City is $406,000, while the average price of a condominium is $279,000.
     The Wasatch County Board reported the same number of sales for fourth quarter 2001 as fourth quarter 2000, with the average sales price increasing six percent to $288,092.
     In Tooele County, the board reported a 14 percent drop in home sales, with an average selling price of $117,243, down four percent from fourth quarter of 2000.
     The Utah County Association reported a 13 percent increase in home sales and a 16 percent decrease in condominium sales as compared to fourth quarter 2000. The average price of a home in Utah County remained steady at $172,522, and the average price of a condominium dropped eight percent to $111,339.
     The Salt Lake Area reported a 12 percent decrease in home sales, and an eight percent increase in condominium sales. The average price for a home in the Salt Lake Area is $182,232, which reflects a three percent increase over the price of a home during the same quarter of 2000. The average price for a condominium in the Salt Lake Area is $133,959, a four percent increase as compared to fourth quarter 2000.
     The Greater Ogden Area Association reported a 17 percent drop in the number of homes sold as compared to fourth quarter 2000, and a 25 percent increase in condominium sales. Home prices remained steady at $136,086, while condominium prices rose five percent to $100,084.
     In Northern Utah, the Brigham/Tremonton Board reported a 51 percent increase in home sales, with the average price of a home at $112,206. The Cache/Rich Association reported a 31 percent increase in sales, with the average price of a home at $128,255.
     Comparing fourth quarter statistics in 2001 to third quarter statistics in 2001, overall home sales dropped 22 percent, with average home prices dropping four percent.
     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.

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