Top Ten Real Estate Markets for 2007- Salt Lake City Ranks #4

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CNNMoney published it’s 2007 Real Estate Outlook on Thursday, which takes a look at different markets across the country and gives CNN’s opinion of the top ten places to own real estate in 2007.

For their predictions of the 100 largest metropolitan areas across the country they also enlisted counsel from Moody’s Economy.com and real estate valuation company Fiserv Lending Solutions.

Salt Lake City ranks #4 for projected appreciation in 2007 behind McAllen-Mission and El Paso Texas and Albuquerque New Mexico.

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Salt Lake also has the highest Median Home Price on the top ten list at $186,230. Median price is, of course, not the average sales price. The average sales price in Salt Lake County is around $240,000- median price is the mid-point for prices in an area, meaning that 50% of properties (including condos) are priced higher and 50% are priced lower than that amount.

Salt Lake also ranks as the #3 fastest appreciating metro in
America (at 19.2%) for 2006.

Orem (just South of Salt Lake City) also ranks as the #3 safest city in
America.

And with the areas incredible economic and job growth in the next few years, things are looking good for home owners in the area.

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