February 2017 Salt Lake County Real Estate Market Video Update

Summit Sotheby’s International Realty has released information about real estate markets in Salt Lake County for January 2017. These market reports focus on units sold, median sales price, days on market and the inventory of homes for sale.

Salt Lake County – Single Family Homes: Active inventory was down 37% from 2016 with 1,499 units on the market and down 21% from the previous month. The median listing price was just under $405,000. The average days on market was down 7% from 46 days in 2016 to 43 days in 2017. The median sales price was just over $300,000. The averages for units sold in the month of December decreased 9% for units sold year over year and decreased 34% decrease month over month with a total of 659 units sold.

Salt Lake County – Condominiums: Active inventory was down 45% from 2017 with 418 units on the market and down 16% from the previous month. The median listing price was just over $250,000. The average days on market was down 9% from 46 days in 2016 to 42 days in 2017. The median sales price was just under $220,000. The averages for the month of December show a decrease of 10% for units sold year over year and down 33% over the previous month with a total of 195 units sold.

To find out more about all our local real estate markets, watch our 60-second market videos at: www.summitsothebysrealty.com/market-update