Hi everyone – before we talk about Salt Lake City’s Real Estate Market – can we talk about Fall!?? As we move into the fall season, we seriously need to take a moment. I mean really… Salt Lake City is GORGEOUS always but in the Fall?? OMG… it never ceases to amaze me.. so colorful and so beautiful against the mountain and blue sky backdrop. We are truly blessed!! I love this city and as I spend more and more time here, I keep falling deeper. I’m hooked.
I‘m also hooked on numbers. Bit of a numbers nerd. Below I’m talking about Salt Lake City BUT if you want me to pull numbers in your neighborhood, I would so love to! Seriously.. it’s kind of my thing. Anytime… just text, call or email me!
Let’s talk Real Estate, shall we? Well… seasonally, this is a time where the spring and summer market slows down. Don’t panic, it’s a thing. Totally normal.. families are planted, kids are back in school, holidays are coming.. moving just isn’t as high on people’s priorities as it is in the warmer months. But that’s not saying that the market still isn’t going strong! Prices and urgency have slowed down a bit which is great..but it’s still going strong. The good homes are still going under contract fast and selling close or over asking. Here are the numbers:
Salt Lake City Single Family Homes
Median Price of a Single Family Home in Salt Lake City for September was $321,250 – compared with August which was $335,250.. that’s $14,000 less. If we look at that as a price per sq. ft. that’s $174.19 sq. ft. for September vs. $181.27.. basically we’re back to early spring numbers. HOWEVER let’s compare it to the same time as last year. For September 2016, median home price was $300,000 and price per sq. ft. was $155.26.. still quite the jump!!
Days on market for September 2017 was 22 vs. August 2017 which was 17. Compared to same time last year? Days on Market for September 2016 was 13…
salt lake city condos
Median Selling Price of a Salt Lake City Condo for September 2017 was $214,500 – compared with August 2017 where the price was $209,500. September Price per Sq. Ft is at $202.03 vs. August which was $194.20. Reason for this? Well… condo sales aren’t as directly related to ‘back to school’ typically as Single Family homes are..
Days on Market for September 2017 was 18 vs. August 2017 was 12. Days on Market for September 2016 was 24.
Let’s compare to 2016, shall we? $179,000 was the Median Selling Price (compared with this year at $214,500) and $179.95 was the price per sq. ft. (Compared with this year at $202.03).
So what am I saying here? Salt Lake City!! Still looking pretty darn good to me!