The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-12-31

The real estate business transacted
in Salt Lake City in the year just
closed was greater in volume than the
preceding year by 81, GIL In addition
to this. it may be said, too. that while
the volume Of business in the past year
is not so great as is shown by the fig
ures of the boom years, the business OF
1899 has been Of far greater value TO
the city than that of the best boom
year ON record. There was an almost
total absence of Specultive buying IN
the year just closed. Every purchase,
almost without exception, was for per-
manent use by the buyer or for per-
manent investment. The amount of
property purchased for homes by people
in moderate circumstances would make
a better showing than was ever made
before could it be set out by itself; and
in that one fact alone can be found
great Engagement for every lover
of Salt Lake.
The total value of the real estate
transferred in Salt Lake City and
county in 1899, as shown by the official
records, is s., ,36l. This does not in
clude the mining properties sold during
the year at Bingham and other points
in the county. The value of these is
given at $sOo,946 more.
The value Of much property trans
ferred is not stated in the records, the
entry being 81 and other valuable con-
Siderations,'' so that it is not possible
10 get at the exact figures; but from
the figures given and from a careful
estimate in all other cases, the real es-
tate business of the year may be pus
at nearly $6,00000O.
Factors of the Year.
There were three distinct, well de-
fined movements that effected the buy
ing and selling of inside realty in the
city during the year. The first and
most important of these was the loca-
ton of the federal building site. As
anticipated. the choice greatly effected
the price of the adjacent property, and
a strong tendency was manifest in the
last half of the year to pull business
south on Main street. This resulted in
strong demand for property on Main,
south of Second South, and a CORE
spending increase in prices. Closely as
ISOLATED with this, and no doubt grow
ing out of it, and for the purpose of
off-setting it, was the effort to attract
attention north on Main street by
those having large holdings there. Fine
improvements are under way, and as
result there is more activity in realty
than for years.
Still another factor that largely i'm
huenced the movement Of real estate
was the choice on the west side of a
site for $500,900 union depot, and the
purchase by number of business firms
of ground for warehouses. This had a
stimulating influence on real estate
business in that part of the city and
prices advanced until they doubled in
some instances. The persistent talk of
new railroads coming in added it's infiu-
ence here to the other factors named
Another influence not so closely con-
fined as those just noted was the evil
dent determination of mining men and
other well-to-do citizens to secure all
the best residence sites on First Brig
ham and First South streets running
east. The demand for lots for small
and moderate priced homes was confin-
ed to no one part of the city, but the
greatest activity was in the east and
southeast portions.
Another thing worthy of note was the
fact that the demand throughout the
year was confined to what is known as
inside property. There was little or
no activity in outlying additions that
were started during the boom Nor
was there any expansion in the bust
ness district, outside of the movement
for warehouses on the tracks. The re-
tail business changed its current in
places, but it still remains inside of
what was the business district five
years ago. The increase in values dur
ing the year was SO per cent on a
great deal of business property 1t
was so per cent on much of the best
residence property on the east side
1t was a good healthy increase in every
part of the city.
The real estate business of the year
by months, as represented in dollars.
is as follows: