In 2019 property owners in the Salt Lake area experienced another year of record-level home prices and strong price appreciation. The theme for the housing market remained the same as it as been for some time now, a dwindling inventory level meaning that homes for sale were in high demand. This was especially true at the lower end of the market, where homes often received multiple offers with days of being listed for sale.
The median sales price for a property in Salt Lake County was $342,000, a gain of 7.12% when compared to 2018 sales prices. The actual number of properties sold did not change much, with 18,086 sales, just 0.53% down from 2018. The one stat that did change considerably was how long a property took to go under contract. Referred to as days on market, this figure saw a sharp rise of 43.75% to stand at 23 days. While this may seem bad, 23 days is still a comparatively short amount of time and is considered a strong seller’s market.
To see how your zip code performed visit my Salt Lake County Home Prices webpage. Here you can see sales information for all zip codes in Salt Lake County, included sales prices, and price changes for both single-family homes and condos.
