What’s the state of the Salt Lake City housing market?

Houses for sale in Salt Lake City in the Sugar House business district may soon increase in value. The neighborhood is undergoing a renovation to the tune of $400 million in the next five years, Deseret News reports.

"There’s an enormous amount of development that’s about to occur in the heart of the Sugar House business district," D.J. Baxter, executive director of Salt Lake City’s redevelopment agency, told the news source.

Approximately 2 million square feet will be developed to include 1,000 new residential units, office and retail space. These new housing opportunities could work to renovate the Sugar House community and increase the value of homes already present in the metro area.

The median single-family detached home price in Salt Lake City was $244,104 as of May 13, 2012, according to ALTOSResearch. The median price per square foot for a house was $108 for the same time frame.

Consider checking out one of the houses for sale in Salt Lake City that are conveniently situated near public transportation – like the new streetcar line in the heart of the Sugar House business district - and enjoy the upcoming amenities.