Utah Cities Among Most Affordable Housing Markets in the Country

Four bedroom, two bathroom home in Salt Lake City

Coldwell Banker Real Estate LLC today released its Home Listing Report (HLR), a snapshot survey of listing prices for four-bedroom, two-bathroom homes in more than 2,300 North American markets.  The survey found Newport Beach, Calif. as the country’s most expensive market, where the average four-bedroom, two-bathroom home has a listing price of $2,537,126.  Niagara Falls, N.Y. at $61,000 came in as the most affordable market. 

Utah’s most expensive market was Salt Lake City, where the average four-bedroom, two-bathroom home had a listing price of $397,630, followed by Sandy at $322,144.  The top three most affordable Utah markets were Logan at $149,532, Cedar City at $155,600 and Hyrum at $166,390.

The Coldwell Banker HLR provides the average home listing price of four-bedroom, two-bathroom properties on coldwellbanker.com that were listed between September 2010 and March 2011 from more than 2,300 North American markets.  Markets included in the U.S. report were required to have at least 10 properties fitting the above criteria within the relevant timeframe. 

“This year’s home listing report is by far the most in-depth local market source of data that Coldwell Banker has ever released,” said Greg Macres, executive vice president of Coldwell Banker Residential Brokerage’s western region. “We’ve included nearly ten times more markets than ever before, which gives us unmatched real estate insight into thousands of North American cities.  We know that home buying remains a deeply personal lifestyle decision, and we believe that reports like this, along with trusted real estate agents, will help to today’s buyers make smart decisions.”

An interactive graphic summarizing the full results of the Coldwell Banker Home Listing Report is available on www.coldwellbanker.com.  Full national data can be accessed on the Home Listing Report website, and additional state data can be found at http://hlr.coldwellbanker.com/us2011/utah.html.

2011 Coldwell Banker U.S.HLR – Highlights

  • Utah’s Markets:  A total of 22 real estate markets in Utah made the list.  The five most expensive markets in the state included: Salt Lake City, Sandy, American Fork, Layton and Washington.
  • More Affordable than Average:  Compared to the national average of $293,251, the average four-bedroom, two-bathroom home in Utah overall was $202,990.
  • Homeownership Affordability:  In total, there are 775 U.S. markets in the HLR with average reported listing prices less than $200,000.  That includes 15 markets in Utah.
  • Low Monthly Payments:  Put in perspective, a $200,000 30-year-fixed mortgage at a 4.5{b0691beea1c2f39bd1c58efe4ba0816740a602e2685bc83cc0a70ecfa3fcdf10} rate could cost a buyer a relatively low monthly mortgage payment of just above $1,000. 
By |2018-11-15T12:42:54-07:00June 20, 2011|

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