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Show The Enterprise Review; October 20, 1976 Page 14b Meal Estate Sales Lowest Since A lightning shaped trend has taken area real estate sales down sharply the last three weeks and the average price of homes sold in Salt Lake reflected the lowest prices since July. This weeks total real estate sales, amounting to just under $5 million, is also the lowest figure recorded since July. I't'K PkiHit. hv Dean Alsup . . .Up, Up and Away! Oakland Construction Co. is shooting for an August 1977 completion of the 16 story addition of the Little America Motel at 500 South Main Street, a spokesman for the hotel said. The new addition will include 375 additional rooms bringing the total number of rooms in the hotel to 850. Also under construction is a 1,000 seat banquet room, a new coffee shop and another restaurant. Ben Nielson, project estimator for Oakland Construction Co., said Oakland crews will work through the winter at full capacity on the $15 million project. Stan Singleton is superintendent for the project. N INVESTORS EARN 12 ON YOUR MONEY Earn a minimum of 12 secured by deeds of trust on homes, unimproved lands and commercial Utah properties. investments thoroughly processed and investigated by United Mortgage and protected by title insurance. All Our record is perfect our investors have never lost a cent in over 23 years of doing business. For further information, no obligation of course, please call or write to: 486-S87- 1 UNITED MORTGAGE COMPANY 2900 So. State, Suite 100 Salt Lake City, Utah 84115 Apartment and duplex sales w ere up this w eek as 1 1 units sold for an average Total price of $62,254. multiple dwelling units sold for $648,800. Last week only nine units sold for a total of $442,100 and an average price of $49,122. two commercial sold this week for properties a total of $5,250 compared to five sales last wreek for $448,795. Only Real Estate Sales Sept. 3 - Oct. 15 B.L. Scott, vice president of the Utah Board of Dollars, in Millions Realtors, was unable to explain the sharp turnabout in sales but did say that it was too early to call the drop anything but a bad week or a late closing week. We might have a lot of properties in negotiations, he said, but it is possible that not very many had closed by the time the figures were reported. 8.5 Real estate sales dropped by 27 percent this week as area realtors sold only 138 properties compared to 165 a week prior. Total sales for the week totaled $4,980,554 compared to $6,837,655 for the week of October 8. The average home price for this week was $36,408 on sales of 113 homes. Last week 142 residential properties sold for an average price of $41,097. My 8.0 7.5 7.0 6.5 6.0 5.5 5.0 JL 4.5 Week of: Sept. 3 Sept. Sept. 10 Oct. 17 Sept. 24 Oct. 15 1 Oct. 8 Source: Salt Lake Board of Realtors |