January 2018 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 26% from 2017 with 1,579 units on the market and down 27% from the previous month. The median listing price was just $430,000. The average days on market was up 16% from 37 days in 2017 to 43 days in 2018. The median sales price was just under $330,000. The averages for units sold in the month of December decreased 10% for units sold year over year and decreased 16% month over month with a total of 921 units sold.

Salt Lake County – Condominiums: Active inventory was down 4% from 2016 with 554 units on the market and down 12% from the previous month. The median listing price was just under $270,000. The average days on market was up 9% from 33 days in 2017 to 36 days in 2018. The median sales price was just under $240,000. The averages for the month of December show an increase of 2% for units sold year over year and decreased 6% change over the previous month with a total of 308 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