June 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 the previous month. 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 31% from 2016 with 1,798 units on the market and up 6% from the previous month. The median listing price was just under $440,000. The average days on market was down 4% from 26 days in 2016 to 25 days in 2017. The median sales price was just over $332,000. The averages for units sold in the month of May decreased 10% for units sold year over year and increased 15% month over month with a total of 1,224 units sold.

Salt Lake County – Condominiums: Active inventory was down 30% from 2017 with 516 units on the market and up 4% from the previous month. The median listing price was just under $270,000. The average days on market was down 34% from 35 days in 2016 to 23 days in 2017. The median sales price was just under $230,000. The averages for the month of May show a decrease of 16% for units sold year over year and decreased 1% over the previous month with a total of 364 units sold.