October 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 12% from 2016 with 2,615 units on the market and down 1% from the previous month. The median listing price was just over $410,000. The average days on market was up 19% from 27 days in 2016 to 32 days in 2017. The median sales price was $326,500. The averages for units sold in the month of September decreased 18% for units sold year over year and decreased 19% month over month with a total of 1,005 units sold.

Salt Lake County – Condominiums: Active inventory was down 15% from 2016 with 637 units on the market and up 2% from the previous month. The median listing price was just over $270,000. The average days on market was up 4% from 27 days in 2016 to 28 days in 2017. The median sales price was just over $212,000. The averages for the month of September show a decrease of 9% for units sold year over year and down 21% over the previous month with a total of 359 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