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Salt Lake Real Estate

Salt Lake Home Prices & Market Conditions

By Trela Bird | Agent in Sandy, UT

Salt Lake Real Estate Market Update May 2013

May 2013 saw the average home sales price for a single family home in Salt Lake County top $290,000 for the first time since Jan 2009. Since hitting the low of $220,676 in Jan 2012, the average sales price has risen 31.87% to the current $290,995 level. This impressive recovery is down to a shortage of Salt Lake Homes for Sale, with few homes coming on the market, and a steady supply of eager buyers. Over the last month we are starting to see an increase in the number of homes coming onto the market, but we are also seeing an increase in the number of buyers.

Because of the strong market, homes are selling fast, with the average number of days on market dropping to 58 days, the lowest level going all the way back to Aug 2007.

Average Sales Price: $290,995

Average Price Per Sq. Ft.: $109.15

Average Days on Market: 58

Total Home Sales: 1,218

This update was provided by Trela, a Realtor serving the Salt Lake Real Estate market. Please read our Salt Lake Homes & Real Estate Blog for more information on the latest trends and market updates.

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