September 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 14% from 2016 with 2.549K units on the market and up 5% from the previous month. The median listing price was just over $413.9K. The average days on market was down 10% from 29 days in 2016 to 26 days in 2017. The median sales price was just over $332K. The averages for units sold in the month of August decreased 18% for units sold year over year and decreased 3% month over month with a total of 1.122K units sold.

Salt Lake County – Condominiums: Active inventory was down 25% from 2016 with 591 units on the market and down 3% from the previous month. The median listing price was just under $272K. The average days on market was down 16% from 31 days in 2016 to 26 days in 2017. The median sales price was just over $219K. The averages for the month of July show a decrease of 3% for units sold year over year and up 6% over the previous month with a total of 414 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