January 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.
Single Family Homes – Active inventory was down 33% from 2015 with 1,695 units on the market and down 26% from the previous month. The median listing price was just over $395,000. The average days on market was down 18% from 45 days in 2015 to 37 days in 2016. The median sales price was just over $293,000. The averages for units sold in the month of December decreased 14% for units sold year over year and decreased 13% decrease month over month with a total of 914 units sold.
Condos – Active inventory was down 40% from 2015 with 463 units on the market and down 15% from the previous month. The median listing price was just over $256,000. The average days on market was down 43% from 54 days in 2015 to 31 days in 2016. The median sales price was just under $210,000. The averages for the month of December show a decrease of 5% for units sold year over year and down 11% over the previous month with a total of 273 units sold.
To find out more about all our local real estate markets, contact your local Summit Sotheby’s International Realty sales associate.