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Housing

Salt Lake County's housing market can only be described as "hot". The Utah Association of Realtors recently reported that 4th quarter 2006 home sales were down 6 percent to the same quarter 2006.  However, the average home price increased about 19.12 percent. The average selling price of a home in Salt Lake County in the fourth quarter of 2006 was $284,180.00, according to a report by the Wasatch Front Regional Multiple Listing Service.

Even with the rising price of residential real estate, Salt Lake City continues to be an affordable and desirable place to live. Utah was named #11 most livable state nationally by the 2006 Morgan Quitno Press ranking.

Salt Lake has also seen a resurgence of downtown residential projects recently. With the success of the residential units at the Gateway, more mixed-use projects that include residential are on the drawing boards. Several downtown residential real estate projects are currently under construstion.  These projects include:  The Bridges Project (mix use of apartments, auditorium/civic center and retail), the Metro Condominiums (a 117-unit residential development with studio, one, two and three bedroom units)  and the Broadway Lofts (a warehouse restoration project with residential units, a penthouse level and a restaurant).

The downtown redevelopment of the two Main Street malls, City Creek is expected to add another 10,000 residents to downtown Salt Lake City in the next 10 years.

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