July 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 25% from 2016 with 2,123 units on the market and up 11% from the previous month. The median listing price was $430,000. The average days on market was down 8% from 24 days in 2016 to 22 days in 2017. The median sales price was just under $330,000. The averages for units sold in the month of June decreased 15% for units sold year over year and decreased 11% month over month with a total of 1,224 units sold.
Salt Lake County – Condominiums: Active inventory was down 29% from 2017 with 569 units on the market and down 1% from the previous month. The median listing price was just over $265,000. The average days on market was down 8% from 25 days in 2016 to 23 days in 2017. The median sales price was just under $220,000. The averages for the month of June show a decrease of 16% for units sold year over year and decreased 7% over the previous month with a total of 368 units sold.