Here's what you can get for $1.5 million in Salt Lake City, Utah
Utah sees home prices appreciate
The coronavirus pandemic has left many people wanting, and suddenly able, to leave crowded and expensive cities, especially on the coasts. But where to go? Salt Lake City may be the answer.
Utah’s state capital and largest city has a lot to offer its residents and prospective homebuyers.
Named after the nearby Great Salt Lake, the city is centrally located for recreation. Great parks, trails and ski resorts are close by, especially in the Wasatch Mountains and Oquirrh Mountains.
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The Latter Day Saints Church is a major employer in Salt Lake City. But there are also a variety of big businesses based there, including clinical testing provider ARUP Laboratories and trucking company C.R. England.
Utah boasted the hottest housing market in the country during the last quarter of 2020, according to a Bankrate.com report from this week. The Beehive State’s home market benefited from home price appreciation, high job growth and low unemployment, according to the report.
As of December, the median sale price in Salt Lake County had risen 14.1% year-over-year to $399,500, according to the Salt Lake Board of Realtors. The number of closings was up 18.6% compared to a year earlier with 1,649 in December, while the inventory was down 56% to just 1,168 homes. Properties spent an average of just 26 days on the market, compared to 44 a year earlier.
Here’s a look at what you can get in Salt Lake City, Utah with a $1.5 million budget:
Central City - $1.5 million
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This historic house is registered with local and national historic districts.
The 5,556-square-foot building dates back to 1914. It has been remodeled as commercial office space and includes 14 large rooms spread across three floors, including the basement, according to the listing with John Armstrong of Ari Realty and Investments. There are two bathrooms and space to add another.
The brick building still maintains is historical Arts & Crafts architecture style with wood finishes, coffered ceilings, fireplaces and built-in bookshelves.
The remodeling updated the wiring including Ethernet, cable and phone. Some of the unique spaces in the building include large conference rooms and focus group/mock trial facilities with a two-way mirror on the main floor and upstairs.
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Outside, the property features a spacious front porch and a rear parking area with six covered carport spaces.
Country Club - $1.3 million
This home sits in a sought-after neighborhood bordered by the Salt Lake Country Club.
The 3,985-square-foot home includes six bedrooms, three bathrooms and two half-baths, according to the listing with Brad Hansen of Windermere Real Estate.
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The home was built in 1955 but has been completely remodeled. The stairs were moved to improve the “flow” through the living room and kitchen. That kitchen features a five-burner gas stove, double ovens, a range hood that vents outside and a butler’s pantry with a prep space.
Upgrades to the home include a ductless mini-split heating and cooling system with a unit in each bedroom and the living area. In addition to being energy-efficient, the system allowed renovators to raise the basement ceiling. The full bathrooms also feature heated floors.
The primary suite’s bathroom has a soaking tub and separate glass shower with a rain head, wall and wand fixtures. The suite also includes a large walk-in closet.