In March 2013 the median Salt Lake Home price per sq. ft.
hit the highest level since November 2009. The median price per sq. ft. stood
at $97.83, a substantial gain of 17.36% over the last year. A combination of
strong demand among buyers and a shortage of Salt Lake Utah homes for sale
meant that any homes listed on the market were in strong demand, often
resulting in a quick sale and in the lower price ranges multiple offers. This
market will continue to perform well while ever the inventory level remains
constrained. The advent of spring should introduce more homes to the market,
but along with this it is also expected to introduce more buyers. The data so
far for April appears to continue the upward trend, with homes continuing to
sell faster for more money. Of course there can be no guarantee that the
recovery will continue but all the indicators are looking positive at the
moment.
Median Home Price: $209,270Homes Sold: 1,099
Median Price Per Square Ft: $97.83
Median Days on Market: 32 days
This article was written by Trela Bird Realtor.
