July 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 18% from 2017 with 2,022 units on the market and up 3% from the previous month. The median listing price was $460,000. The average days on market was up 0% from 22 days in 2017 to 24 days in 2018. The median sales price was just over $360,000. The averages for units sold in the month of June decreased 8% for units sold year over year and increased 5% month over month with a total of 1,290 units sold.

Salt Lake County – Condominiums: Active inventory was down 36% from 2017 with 481 units on the market and up 3% from the previous month. The median listing price was $300,000. The average days on market was up 24% from 25 days in 2017 to 31 days in 2018. The median sales price was just under $250,000. The averages for the month of June show an increase of 0% for units sold year over year and increased 4% over the previous month with a total of 430 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