Home prices in Utah County, Utah continue to drop. During October, the median sold price of Utah County Homes was less than $200,000 for the first time in years. The average list price of Provo homes also continues to decline as shown by this graph.
October was a pretty good month for home sales, the fourth best of the year for Utah County. Home sales were up by nearly 5% from last month, as 470 residential homes sold, and were up by 22% compared with a year ago. Many of these home sales can be attributed to the then expiration of the first time buyer tax credit.
Utah County currently has 3,896 residential homes for sale. This is 16% less inventory than a year ago. At Octobers sales pace, Utah County has 8.36 months of active inventory.
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