August 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 month of July. 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 19% from 2017 with 2,164 units on the market and up 2% from the previous month. The median listing price was just under $460,000. The average days on market was up 8% from 24 days in 2017 to 26 days in 2018. The median sales price was just under $370,000. The averages for units sold in the month of June decreased 4% for units sold year over year and decreased 17% month over month with a total of 1,136 units sold.
Salt Lake County – Condominiums: Active inventory was down 27% from 2017 with 512 units on the market and down 1% from the previous month. The median listing price was just under $300,000. The average days on market was down 4% from 23 days in 2017 to 22 days in 2018. The median sales price was just over $240,000. The averages for the month of June show an decrease of 6% for units sold year over year and decreased 17% over the previous month with a total of 374 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