Sugarhouse (84105) By The Numbers

I love this area of town, it's where I call home! 84105 is proving to be an oasis of calm on our otherwise slowing market. There are many reasons, the most obvious is it's close to everything, like the Universities and Downtown. There's a trendy feel in 84105 while still providing the character and calm of "anytown USA." If you're a yuppy, a hippy, or a working professional who enjoys good restaurants and city access, there's a good chance you live here. Consequently, its the perfect area for investors looking for rental properties or other investments.

While other areas of our city have seen harsh declines, zip code 84102 and the Avenues have both seen a 29% decrease in number of listings sold from 2007 to 2008. In this same period, 84105 has seen a 4% increase. Compared to once steamrolling areas like Draper (84020) has seen sales drop from 27% to 17% of listings sold from 2007 to 2008.

The following figures are comparables of January to July 15, 2005 to 2008 for zip code 84105. In 2005 67% of all listings sold for average price of $244,000, in 2006 it was 49% at average of %298,000, in 2007 36% at average of $334,000, an in 2008 40%sold at average of $316,000.

I believe this is one of the best areas to buy in now and going forward. It's location means it will remain one of our most stable, and sought after areas. Indeed, if gas prices stay high, owning property in 84105 will be one of the smartest choices you can make.

Best,

Matt

Why Sugarhouse?

I named my blog after the place I'm proud to call home! I'm not alone, many love this area of Salt Lake City and would not live anywhere else. Perhaps it's the cultural diversity, vibrancy, and great neighborhoods? While Sugarhouse proper is a relatively small geographical area, its often used to describe a far larger area, and for the purposes of this article I'm including the neighborhoods of 9th & 9th, 15th & 15th, and the area around Emigration Market.

The main Sugarhouse business area on the corner of 2100 south and 1100 east is a warm inviting place with good food, drink, and culture. It's one of the few places in the Salt Lake Valley where you'll find uber cool 20 somethings and 50 somethings rubbing elbows in harmony. Or where you'll find a modern Barnes and Noble book store directly adjacent to a charming victorian style public library. It's a place where, even when retail chains like Starbucks move in, they enjoy healthy competition from the local champs like Sugarhouse Coffee.

9th & 9th has seen rapid changes in recent years. Yes, the Coffee Garden moved across the street, and yes, the ambiance isn't all it used to be, but its still bustling! New restaurants like Mazza give the area an upscale feel, while the brilliant Centered City Yoga and it's charming nationally known owner and teacher Dana Baptiste provide an anchor for fellow business's with a hyper-devoted clientele. Trust me, as a fellow devotee I know!

15th and 15th is the "I've arrived" area of town. Another small retail area centered around a street address, its' smaller and quieter than 9th & 9th but more upscale. Great dining and "boutique-ing" opportunities are available a minutes walk from the uncompromisingly fashionable homes in the area.

The famous Emigration Market with its "old school" neon sign graces the corner of 13th and 17th. The market is convenient for basic and upscale dinner menus, and shares the intersection with the ubiquitous Jolleys pharmacy and ever popular breakfast place Eggs in the City.

Harvard/Yale is an area to which many aspire and it's easy to see why. Roughly covering the aforementioned streets between 1300 and 1700 east, (as well as Gilmer Park and several other adjacent streets) its' winding boulevard feel, canopied streets and seven figure homes provide an oasis of beauty in our city.

This is the perfect area for those of us who want to be close to EVERYTHING while maintaining a quiet, friendly atmosphere to raise a family. Feel free to ask me about home values or restaurant menus, I'm proud of where I live and think you'll like it too!