June 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 11% from 2017 with 1,888 units on the market and up 8% from the previous month. The median listing price was just under $450,000. The average days on market was down 8% from 25 days in 2017 to 23 days in 2018. The median sales price was $360,000. The averages for units sold in the month of May decreased 16% for units sold year over year and increased 6% month over month with a total of 1,144 units sold.

Salt Lake County – Condominiums: Active inventory was down 34% from 2017 with 455 units on the market and up 6% from the previous month. The median listing price was just over $300,000. The average days on market was up 21% from 24 days in 2017 to 29 days in 2018. The median sales price was just under $240,000. The averages for the month of May show an increase of 6% for units sold year over year and increased 7% over the previous month with a total of 423 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