home prices: Salt Lake Real Estate Market Continues Strong Performance in 1st Quarter 2017
- 04/12/17 10:05 AM
The start of 2017 saw a strong Salt Lake property market, with the median home sales price climbing 10.04% in the first quarter, to sit at $275,000. The number of properties sold in the quarter declined 1,55%, which looks like a negative, but really the drop was due to a very limited supply of homes for sale. Because of the limited inventory of homes, competition among buyers was strong, driving down the median days on market by 9% to stand at just 20 days.
While these number seem strong I believe we will see even stronger numbers in the second quarter. During … (0 comments)
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home prices: 2016 Another Strong Year for Salt Lake Home Prices
- 01/15/17 04:27 PM
2016 was another good year for Salt Lake County homeowners. The median sales price for a Salt Lake home was $265,000, a strong gain of 6.64% in the year. While this is a good steady gain, the truth is most of the gain came in the first quarter, with sales prices in the other 3 quarters remaining pretty flat. The number of home sales showed a slight increase compared to 2015, a gain of 3.54% with 17,939 sales. Those properties that sold certainly sold fast, taking just a median of 14 days to go under contract, a lot faster than the … (3 comments)
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home prices: Historic Home Prices Graph
- 12/28/16 02:08 PM
I just introduced an interactive home prices chart / graph to our website. The graph shows annual single family home median sales prices for cities / zip codes within Salt Lake County. When you first go in it shows all zip codes, but you can customize the graph to only show select zip codes / cities. In the future I am hoping to extend the functionality to show condo prices and to show quarterly prices.
Salt Lake Home Prices Graph
… (0 comments)
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home prices: Salt Lake Home Prices Forecast to Rise in 2017
- 12/06/16 06:31 PM
Now forecasting the housing market is not something that is easy, and many people have come unstuck trying to do it. With that said Realtor.com have come out with their housing market forecast for next year and two Utah cities feature in the top 20. They forecast that the Salt Lake metro area will be the 16th best market in the U.S., with 6.66% price appreciation and a 4.67% increase in sales. Provo comes in at number 18, with a 5.16% price increase and a 5.84% increase in home sales.
In addition to the forecast they have also provided some potential trends … (1 comments)
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home prices: Daybreak Home Prices Continue to Climb in 2nd Quarter 2016
- 11/06/16 11:06 PM
Home sales prices continued their upward momentum in the 3rd quarter 2016. A 5.21% rise in the median sales price for a Daybreak home saw the median price for the quarter stand at $326,136. With the number of new listings coming on the market taking a decline (down over 12%), buyers had fewer homes to choose from, which no doubt fueled price increases and competition among buyers. There were a total of 160 sales in the quarter, down 2.44% from the same time last year. A new listing took a median of 25 days to go under contract, which while well … (1 comments)
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home prices: Daybreak 2nd Quarter 2016 Real Estate Market Update
- 08/12/16 05:44 AM
The 2nd quarter 2016 was another good quarter for the Daybreak real estate market, with the median home sales price climbing 4.30% to stand at $310,000. This price increase was on the back of increased home sales of 175, up an impressive 10.76%.
The amount of time it took to put an home under contract dropped to a median of 19 days, a sure sign of a really strong real estate market, and nearly 60% better than the same time last year.
Median Sales Price: $310,000 up 4.20%
Total Sales: 175 up 10.76%
Median Days on Market: 19 down 57.78%
When we break down the sales … (1 comments)
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home prices: Salt Lake County 2nd Quarter 2016 Home Prices
- 08/07/16 04:03 AM
Median home prices hit record levels in the 2nd quarter 2016, with the median sales price standing at $269,900, that’s an increase of 6.89% over the same time last year. Home sales were slightly up on last years, with 5218 home sales, a modest rise of 3.43%. The number that really stands out in the quarter was 9 days, that’s the median amount of time it took a home to go under contact. The reflects the strong sellers market we are seeing in many areas of Salt Lake County.
In we just look at single family homes then we see a similar … (0 comments)
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home prices: Daybreak Annual 2015 Real Estate Market Update
- 01/26/16 04:37 AM
The Daybreak housing market was somewhat of a mixed bag in 2015. While home sales saw strong gains with an increase of 32.73% (511 sales) and the time taken to put a home under contract dropped 38.33% to 37 days, this had little impact on the median sales price. The median sales price for 2015 increased just 2.76%, to stand at $298,000.
While home sales started off slow in 2015, they improved throughout the year and finished with a strong seller’s market (median sales price increased 7.41% in the 4th quarter). This was true for new home construction not just resale homes, … (0 comments)
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home prices: Salt Lake County 2015 Annual Housing Market Update
- 01/22/16 01:40 AM
The Salt Lake housing market performed pretty well in 2015, with both single family homes and condos seeing their median sales price increase.
For single family homes all three key indicators showed positive signs in 2015. The median sales price for single family homes increased 6.67% to $272,000. The total number of sales climbed 14.77% with 13,292 sales and the median time for a home to go under contract dropped 40% to 21 days. The lower end of the market was particularly strong, with keen competition among first time home buyers driving quick sales, often with multiple offers (for the right home … (1 comments)
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home prices: Daybreak 3rd Quarter 2015 Market Update
- 10/27/15 01:32 AM
The Daybreak real estate market has really turned around since this time last year. While it looked like the market was slowing in the 3rd quarter 2014, the 3rd quarter 2015 was certainly not slow. The median sales price for the quarter increased an impressive 14.86% to $310,000, on the back of strong home sales totaling 159 (an increase of over 44%). Homes were also selling fast, in fact twice as fast as last year, with a median days on market of 33 days.
Median Sold Price: $310,000 up 14.86%
Total Sales: 159 up 44.55%
Median Days on Market: 33 down 50%
If … (0 comments)
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home prices: Salt Lake County 2nd Quarter 2015 Housing Market Update
- 07/22/15 02:09 PM
The Salt Lake County housing market experienced strong performance in the 2nd quarter 2015, with the single family home median sales prices hitting a new record high of $276,500, a rise of 8.43%. Fueled by an increasingly strong local economy the number of single family home sales climbed an impressive 15.85%, with 3873 homes sold in the quarter. Those homes that sold were also selling fast, taking a median of just 14 days to go under contract. All these indicators point towards a strong seller’s market.
Best Performing Zip Codes
Murray 84107 up 20.93% $260,000
Salt Lake City 84111 up … (1 comments)
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home prices: 2nd Quarter 2015 Daybreak Home Prices / Real Estate Market Update
- 07/16/15 03:06 AM
Daybreak home sales surged in the 2nd quarter 2015, with the number of homes sold increasing 40% to 147 sales. Even with this large increase in sales, median home sales prices remained static, standing at $297,000, a decrease of 1%. Homes also took longer to sell, taking a median of 43 days, an increase of 7.50%.
Given these results people may ask why prices have not increased on the back of strong sales. Well it all comes down to supply of demand. While home sales were strong, the supply of home listings both from resale homes and new construction also remained strong. … (1 comments)
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home prices: 1st Quarter 2015 Daybreak Home Prices / Real Estate Market Update
- 04/09/15 01:55 PM
The first 3 months of the year delivered a bit of a mixed bag for the Daybreak real estate market. While the number of sales saw good appreciation with 86 homes sold (some of this was probably down to the unseasonably nice weather), the median sales price actually declined 12% to $265,981.
We can see the reason for the decline when we examine the breakdown of types of home sold. There was strong appreciation in townhome sales (up 92%) and condos sales (up 40%), while single family homes sales fell 7%. This means that the trend for the quarter was for smaller … (0 comments)
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home prices: Salt Lake County Home Prices Continued their Climb in 2014
- 01/21/15 06:33 AM
Home prices continued their upward trend in 2014, albeit at a slower pace. The median sales price for a single family home increased to $255,000, a 4.08% increase over 2013. This is the third year in a row prices have increased but there were signs of the home price appreciation slowing. For a start homes took approximately 50% longer to sell in 2014, and the total number of homes was slightly down. The more expensive and high demand areas certainly slowed in 2014, with the Avenues only showing a 1.26% increase and the two Holladay zip codes down 2.76% and down … (0 comments)
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home prices: Salt Lake County Home Prices Continued their Climb in 2014
- 01/21/15 06:33 AM
Home prices continued their upward trend in 2014, albeit at a slower pace. The median sales price for a single family home increased to $255,000, a 4.08% increase over 2013. This is the third year in a row prices have increased but there were signs of the home price appreciation slowing. For a start homes took approximately 50% longer to sell in 2014, and the total number of homes was slightly down. The more expensive and high demand areas certainly slowed in 2014, with the Avenues only showing a 1.26% increase and the two Holladay zip codes down 2.76% and down … (0 comments)
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home prices: Daybreak UT 2014 Home Prices
- 01/08/15 01:08 AM
Daybreak’s housing market experienced another good year, with a median home price increase of 6.89% in 2014. This means that in the last 3 years sales prices have increased between 6 and 8 % each year. Even with these increases the median home price of $290,000 is still below the peak of $293,360 seen back in 2008. Home sales were slightly up, going from 366 in 2013 to 382. The only negative is that homes took longer to sell, taking a median of 58 days to go under contract which is an increase of over 50%. This increase in the time … (0 comments)
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home prices: Daybreak 3rd Quarter 2014 Market Update
- 11/10/14 02:05 AM
The median home sales price for a Daybreak home increased just 1.32% in the 3rd quarter 2014, with the number of homes sold also showing a small increase of 2.91%. The big jump was in the number of days it took to sell a home which increased more than 88.57% to 66 days. So why the big jump in days on market? Well it’s all about oversupply. The home builders feeling better about the market have really stepped up their building of spec homes (homes built without a buyer). This is causing a surplus of homes for sale on the market, … (0 comments)
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home prices: Salt Lake Home Prices Hit Record High in 3rd Quarter 2014
- 10/18/14 07:46 AM
The median home price for a Salt Lake County single family home hit a new record high in the third quarter 2014. The new median home sales price stood at $257,900, beating the old record of $256,000 last seen in the 3rd quarter 2007.
Even on the back of this record high we are starting to see a change in the market. Home prices rose just 1.34% compare to the same time last year, and we are starting to see a fall in the number of homes sold. The number of homes sold in the quarter stood at 3137, which … (2 comments)
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home prices: Salt Lake County Home Prices near Record Highs
- 07/24/14 07:13 AM
The second quarter 2014 saw the median home price for a Salt Lake County single family home get to within $1,000 of the record high of $256,000, which was last seen in 2007. The actual price appreciation for the quarter was pretty modest, increasing just 2%. This was on the back of declining home sales data where the number of single family home sales fell 9.53% to 3245 homes sold. The median time taken to put a home under contract was 26 days, which is a strong number and the sign of a good housing market.
A total of … (1 comments)
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home prices: Daybreak 1st Quarter 2014 Home Sales Data
- 05/14/14 05:21 AM
The Daybreak housing market had a good start to the year showing strong home sales and sales prices. The median home price climbed an impressive 19.78% in the first quarter (when compared to the same time last year), with the new median home sales price standing at $305,450. While the number of homes sold remained flat (72 vs 74 last year), the time taken to sell a home dropped substantially, taking a median of 39 days (falling from 60 days).
2014 First Quarter Home Sales
Median Sold Price: $305,450 up 19.78%
Total Sales: 72 down 2.70%
Median Days on Market: … (0 comments)
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The start of 2017 saw a strong Salt Lake property market, with the median home sales price climbing 10.04% in the first quarter, to sit at $275,000. The number of properties sold in the quarter declined 1,55%, which looks like a negative, but really the drop was due to a very limited supply of homes for sale. Because of the limited inventory of homes, competition among buyers was strong, driving down the median days on market by 9% to stand at just 20 days.
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