Everyone is definitely on point so far but heres another perspective.
We are seeing allot of bank owned homes being released to the market and where it is much easier for a detached single family home to be market by itself for its wood floors, granite, etc., Its harder for condos to come back due to the varying nature in the different complexes of association fees, varying updates of interior units and the similarity they still have with traditional rental units.
With so many new "upscale" apartments being built around an in the outskirts of SLP, many homes that sell in the High 200's as Matt mentioned have a similar finish level versus condos that may have never been updated and have a higher HOA due which makes it only marketable at a 100K price point.
So to recap my answer there are a few factors including: REO's, HOA Fees, Nature of Amenities and options with regular new apartment rentals.
Hope this "alternative" perspective also helps the great answers below?... more