Condo prices soaring in Salt Lake

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Tom Callan, KSL Newsradio If you own a condo in some Salt Lake City neighborhoods, odds are you're pretty happy right now.

The condo that sits at 54 B Street in Salt Lake's Avenues has a beautiful view of the Cathedral of the Madeleine across the street. To the west, the spires of the Salt Lake Temple can be seen. But is it really worth $1 million? "They're beautiful condos, but for that size there's no way I would pay $1 million," one woman said.

Average prices for condos in the Avenues shot upward 39 percent last year, but that's nothing compared to the condos in the Foothill/Parley's area. They increased by 103 percent.

Elsewhere in the city, owners received a modest 10 to 20 percent increase.