Salt Lake Home Prices on the Rise in May 2013

Salt Lake home sales were again strong in May 2013, with 1,196 homes sold, the most seen since May 2007. On the back of strong single family home sales prices continued to rise, increasing 16.23% to $249,900. Sellers in the current market are in a strong position, getting on average almost the full asking price, with the median asking price of $250,000 and a median sales price of $249,900.

One piece of bad news for buyers is the recent increase in interest rates. The more interest rates go up the less buyers can afford, which may do one of two things. Those buyers that have been on the fence may decide to get in before it’s too late, or may just decide not to bother at all.

Salt Lake County May 2013 Single Family Home Sales

Median Home Price: $249,900
Homes Sold: 1,196
Median Price Per Square Ft: $102.76
Median Days on Market: 14 days

Use our MLS search to find Salt Lake Homes for Sale. Blog post written by Trela Bird, your Salt Lake Real Estate expert.

Median Price Per Sq. Ft. Hits Highest Level Since November 2009

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: $209,270
Homes Sold: 1,099
Median Price Per Square Ft: $97.83
Median Days on Market: 32 days

This article was written by Trela Bird Realtor.

Salt Lake Median Home Price Tops $200,000

The Salt Lake housing market continued its strong performance in August 2012, with the median home price rising above the $200,000 mark for the first time in 2 years. The median home price stood at $205,000, a rise of nearly 10% year on year.   

Total Sales 1,337

Median Sales Price $205,000

Median Sq. Ft. 2,109

Median Price Per Sq. Ft. $93.18

Median Days On Market 39

Strong home sales of 1,337 homes sold meant that Salt Lake UT Homes were in high demand, and coupled with a limited home listing inventory, prices continued to come under upward pressure. If homes are priced right they are selling fast, with the median days on market being 39 days. We are also seeing keen competition among buyers for some homes, and have seen multiple offer situations in several offers that we submitted in August and September.

Strong Salt Lake Home Sales in July 2012

Another strong month for Salt Lake Home Sales saw home prices on the rise again in July 2012. The median Salt Lake County home price for July stood at $193,000, up from $189,700 the previous year. There were a total of 1,203 homes sold, up from 1,036, with a median price per square foot of $90.76 up from $86.55. The biggest improvement and a really good sign of an improving housing market was the median days on market, which saw a dramatic drop from 70 days to 32 days. This shows that homes were selling more than twice as fast as a year ago.

Total Sales 1,203
Median Sales Price $193,000
Median Sq. Ft. 2,109
Median Price Per Sq. Ft. $90.76
Median Days On Market 32

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