November 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 17% from 2016 with 2,345 units on the market and down 14% from the previous month. The median listing price was just over $414,000. The average days on market was up 10% from 30 days in 2016 to 33 days in 2017. The median sales price was $330,000. The averages for units sold in the month of October decreased 1% for units sold year over year and increased 1% month over month with a total of 1,102 units sold.
Salt Lake County – Condominiums: Active inventory was down 1% from 2016 with 669 units on the market and up 1% from the previous month. The median listing price was just over $268,000. The average days on market was up 6% from 31 days in 2016 to 33 days in 2017. The median sales price was just over $225,000. The averages for the month of October show an increase of 6% for units sold year over year a 0% change over the previous month with a total of 380 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