Election year jitters could be responsible for a slight drop in the number of single-family home sales in October from September’s activity.

More than one potential buyer has told me they wanted to wait until after the election. Then they’d decide if they want to buy real estate or not.

Still, the Utah County real estate business has been seeing annual gains recently, with more sales this last October than a year ago and prices continuing to rise. This October 364 homes sold, compared to 354 in October 2011, but 409 sold this past in September, according to the Wasatch Front Multiple Listing service.

The average sales price of $233,413 is holding steady at 6 percent over a year ago where the average sales price was $220,158. However, September’s average sales price was even higher at $252,298. 

Homes are selling faster these days as well. A year ago October the average time on the market was 125 days. That’s been cut down to 99 days on average, although the September average was a bit faster at 94 days.

A closer look at this October sales revealed that buyers opted not only for lower priced homes, but smaller digs as well with total sales adding up to $84.9 million, the lowest volume since March’s $81 million. The average home measured 2,898 square feet, down from 3,073, the MLS reported.

The bulk of single-family homes for sale in Utah County range from $150,000 to $300,000. 

The attached home market, comprising condos, townhouses and twin homes has climbed substantially from last year. October sales in Utah County totaled 106, compared to 98 last year, while average sales prices rose to $152,575 vs. $135,753 a year ago, an increase of 12 percent, the first double digit increase seen for awhile.

Time on the market dropped to 92 days, compared to 165 days, but properties sold for 88 percent of asking price compared to 90 percent a year ago. Most attached units range from an average of  $100,000 to $200,000, the MLS says. 

Rodger L. Hardy is a Realtor affiliated with Prudential Utah Real Estate and a former real estate editor. For answers to your real estate questions please email him at rhardy@utahresidentialEteam.com.