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2014-04-22 10:58:22
Real Estate Statistics for Utah and Salt Lake Coun

 

Here’s a look at the latest real estate statistics for our area. In Utah County we’ve seen a 7.75% increase in the median sold home price the first quarter of the year compared to the same period of time last year. Total single family home sales have remained about the same.

We’ve seen about 22% more listings come on the market the first quarter of the year compared to last year. I think this is good news since our inventory levels have been low. The interesting thing is we are seeing 17% fewer of those increased # of listings actually selling compared to last year. Translation: We are seeing a strong real estate market that is starting to normalize. If a home is priced well it sells quickly and many times with multiple offers…since the market is doing well more people are pushing the price barrier and many of those homes are sitting on the market longer or not selling.

Utah County condos have seen a median price increase of 8% the first quarter of the year and 33% more condos have sold than the same period last year.  The number of townhomes sold are up 15% and the median townhome price is up 4%.

Salt Lake County saw a 5% decrease in total number of single family homes sold the first quarter of the year but the median sold price is still up about 8%. The number of townhomes sold has increased dramatically in SLC with 26% more selling this quarter compared to last year’s first quarter while condo sales have slipped about 11%. Even though sales have slowed a little median prices are still up with townhomes up about 11% and condos up about 8.7%.

Every city is a little bit different so if you want more specific market data feel free to contact me.  Have a great day! 

 
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2014-04-22 10:58:22
Real Estate Statistics for Utah and Salt Lake Coun


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