salt lake county: 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)

salt lake county: 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)

salt lake county: 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
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salt lake county: 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)

salt lake county: 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)

salt lake county: 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)

salt lake county: 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)

salt lake county: 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)

salt lake county: 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)

salt lake county: 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)

salt lake county: 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)

salt lake county: Salt Lake County Home Prices Continue to Rise in March 2014 - 04/28/14 03:57 AM
Home Prices in Salt Lake continued to show positive returns in March 2014, albeit on the back of weaker sales. The median home price for a single family home stood at $248,450 which is an increase of 8.28%. While this is a nice rise, it falls within the narrow sales price band we have seen over the last 12 months, with a low of $240,000 (April 2013) to a high of $260,000 (Aug 2013). Since last summer the real estate market has taken a breather, with prices not really appreciating and fewer homes sold. Having said that we are starting to … (0 comments)

salt lake county: Salt Lake County Home Prices Rebound in February 2014 - 03/10/14 01:07 AM


The median home price for single family homes rebounded in February hitting the highest level since August 2013. The median sales price for a single family home stood at $249,900, up 6.34% from the same time last year.  While sales prices did see a gain, the actual number of homes sold remained below last year’s number, with a total of 621 sales, a decline of 5.77%. Probably the most disturbing stat was that to do with Median Days on Market (how long it takes a home to sell), which has increase 70% over the last year, hitting the highest … (0 comments)

salt lake county: June Prices Continue to Climb in Salt Lake County - 07/16/13 02:26 AM
Salt Lake home prices continued to climb in June 2013. The median price for a single family home broke the $250,000 mark for the first time since June 2008, while the median days on market dropped to just 13 days, the lowest level since June 2006. The market remains strong especially in the lower end of the market, where there is fierce competition for starter homes. The one blot on the landscape is the recent rise in interest rates (although they have recently pulled back from there short term highs), which could force people who are on the fence to either … (1 comments)

salt lake county: Salt Lake Home Prices Up Sharply in 1st Quarter 2013 - 05/02/13 04:25 AM
The median home price for a Salt Lake County single family home rose 19.18% to $226,450 in the first quarter 2013. This strong rise in prices happened even though the number of homes sold was basically flat, managing only a 0.95% rise in the number of homes sold compared to the 1st quarter 2012. So why are prices going up so much if sales are flat, well it’s down to supply and demand. The reason that the number of sales are not increasing like we might expect is that there is simply not enough homes on the market. So while demand … (2 comments)

salt lake county: Strong Price Increases on Declining Home Sales - 02/11/13 04:16 AM
The home price for a Salt Lake County property remained constant in January 2013. The price has now stayed the same for four months in a row, standing at $205,000. When compared year on year the price has increased a very respectable 17.82%, and judging by the activity we have seen at the start of the month this trend may well continue.

While prices are up, the number of properties sold went down fractionally, falling 0.4% to 756. So what if going on? Why are prices going up when the number of homes sold are down? Well it’s all down to … (0 comments)

salt lake county: Salt Lake Housing Recovery Continues in November 2012 - 12/18/12 02:39 AM
The November 2012 median price per square ft. for a Salt Lake County Home hit the highest level seen since June 2010. The median price per square ft. continued its steady rise hitting $94.10, a very respectable rise of 14.52% over last Novembers figure.  The median home price of $205,000 was the same value seen in October 2012, but was 13.89% up on November 2011. This strong data is very encouraging for the housing market, and hopefully points the way to a continued recovery in 2013.
Median Home Price: $205,000Median Price Per Sq. Ft.: $94.10Total Homes Sold: 1,038Median Days on … (0 comments)

salt lake county: Salt Lake October 2012 Housing Market Update - 11/07/12 02:06 AM
The Salt Lake County Housing Market again produced strong home sales in October 2012. There were 1,129 homes sold in the month, which is an improvement of 9.19% over October 2011. Median Salt Lake home prices again finished above the $200,000 mark, with a new median home price of $205,000, a healthy increase of 10.81%. The median price per square foot rose to $93.34, the highest level seen since June 2010.
With the holidays approaching home inventory levels are currently very low, with many homes selling soon after they appear on the market. At a national level a recent report … (0 comments)

salt lake county: Salt Lake Real Estate Market Update August 2012 - 09/19/12 11:27 AM
The medium home price for a Salt Lake County home climbed above $200,000 for the first time since October 2010. The new median home price of $205,000 was sharply up from the $186,884 seen in August 2011. Strong home sales saw a total of 1,337 homes sold, the largest number of sales for over five years, going all the way back to June 2007. Homes were also selling faster taking a median of just 39 days to sell.
Median Home Price: $205,000 up 9.69%
Home Sales: 1,337 up 19.59%
Median Price Per Sq. Ft.: $93.18 up 13.33%
Median Days on … (0 comments)

salt lake county: Salt Lake County Prices Up in April 2012 - 05/22/12 02:31 AM
Salt Lake Home Prices were on the rise in April 2012. For the second month in a row home prices went up, with the median home price rising 4.28% (when compared to April 2011 prices) to $195,000. If we look at month on month data, prices have actually increased for 3 months in a row. This encouraging home sales data may well point to the bottom on the market and even shows that prices are starting to rebound, especially in the more trendy areas like the Avenues, 9th and 9th and Sugarhouse.
In addition to prices going up, the number … (1 comments)

 
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Trela Bird

Realtor, Salt Lake City Utah

Salt Lake City, UT

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