Top 10 Highest Median Single-Family Home Prices along the Greater Wasatch Front
Salt Lake County home prices climbed to an all-time high in the third quarter, according to the Salt Lake Board of Realtors®. The median single-family home price in the July-through-September period reached $381,500. That’s up 7.5 percent compared to a median price of $355,000 in last year’s third quarter. Just three years ago, the median single-family home price reached $300,000, which was then an all-time high price. The previous peak home price was in the third quarter of 2007, when home prices topped $256,000 (or $298,085 in inflation-adjusted dollars). Home prices increased across all Wasatch Front counties including: Davis, up 6.2 percent; Tooele, up 2.6 percent; Utah, up 4.4 percent; and Weber, up 10.3 percent. Sales of single-family homes in Salt Lake County were flat (up 0.7 percent) in the third quarter year-over-year. Davis County saw sales increase 9.8 percent. Sales in Tooele County were up 4.7 percent. Utah County sales were up 11.8 percent. Sales in Weber County were up 12.1 percent. In the third quarter, the typical Salt Lake home was on the market 37 days before it sold – six days longer than the average time for a home to sell during the third quarter of 2018
The market has shifted, and that’s a good thing.
IN TIMES OF UNCERTAINTY, PEOPLE FOLLOW THE CERTAIN – top five housing market questions Over the next 5 days we will post the top 5 questions everyone is asking. Question one: Is the housing market going to crash? Answer: Headlines right now scare consumers that the...
3 Tips for Buying a Home Today
3 Tips for Buying a Home Today If you put off your home search at any point over the past two years, you may want to consider picking it back up based on today’s housing market conditions. Recent data shows the supply of homes for sale is increasing, giving buyers...
Planning To Retire? Your Equity Can Help You Reach Your Goal.
Planning To Retire? Your Equity Can Help You Reach Your Goal. Whether you’ve just retired or you’re thinking about retirement, you may be considering your options and trying to picture a whole new stage of your life. And you’re not alone. Research from the Retirement...
Experts Increase 2022 Home Price Projections
Experts Increase 2022 Home Price Projections If you’re wondering if home prices are going to come down due to the cooldown in the housing market or a potential recession, here’s what you need to know. Not only are experts forecasting home prices will continue to...
Pricing your house based on current market conditions means it’s more likely to sell quickly. Let’s connect so you can have the best advice when you sell today.
Is the Shifting Market a Challenge or an Opportunity for Homebuyers?
Is the Shifting Market a Challenge or an Opportunity for Homebuyers?If you tried to buy a home during the pandemic, you know the limited supply of homes for sale was a considerable challenge. It created intense bidding wars which drove home prices up as buyers...
3 Graphs To Show This Isn’t a Housing Bubble
3 Graphs To Show This Isn’t a Housing Bubble With all the headlines and buzz in the media, some consumers believe the market is in a housing bubble. As the housing market shifts, you may be wondering what’ll happen next. It’s only natural for concerns to creep in that...
Why the Forbearance Program Changed the Housing Market
Why the Forbearance Program Changed the Housing Market When the pandemic hit in 2020, many experts thought the housing market would crash. They feared job loss and economic uncertainty would lead to a wave of foreclosures similar to when the housing bubble burst over...
Housing Market Forecast for the Rest of 2022
Housing Market Forecast for the Rest of 2022 Some Highlights The housing market is shifting away from the intensity of the past two years. Here’s what experts project for the remainder of 2022. Home prices are forecast to rise more moderately than last year. Mortgage...
Why It’s Still a Sellers’ Market
Why It’s Still a Sellers’ Market As there’s more and more talk about the real estate market cooling off from the peak frenzy it saw during the pandemic, you may be questioning what that means for your plans to sell your house. If you’re thinking of making a move, you...