December 2016 Salt Lake County Real Estate Market Update
Summit Sotheby’s International Realty has released information about real estate markets in the Salt Lake County area for November 2016. These market reports focus on units sold, median sales price, days on market and the inventory of homes for sale.
Salt Lake County – Single Family Homes: Active inventory was down 30% from 2015 with 2,104 units on the market and down 17% from the previous month. The median listing price was just over $389,000. The average days on market was down 22% from 41 days in 2015 to 32 days in 2016. The median sales price was just over $290,000. The averages for units sold in the month of November increased 9% for units sold during November year over year and decreased 13% decrease month over month with a total of 948 units sold.
Salt Lake County – Condominiums: Active inventory was down 39% from 2015 with 511 units on the market and down 14% from the previous month. The median listing price was $250,000. The average days on market was down 36% from 50 days in 2015 to 32 days in 2016. The median sales price was just over $225,000. The averages for the month of November show an increase of 13% for units sold year over year and up 19% over the previous month with a total of 285 units sold.
To find out more about all our local real estate markets, contact me immediately.