How’s the Salt Lake County Real Estate Market This Month?

With the coronavirus pandemic, earthquakes, and so many other things happening in our community, many have asked how the real estate market is doing, and how is it looking in the future. 

Although I cannot predict the future, I can tell you what the market has done this year. Let’s talk about how June performed.

Surprisingly, June 2020 looks great! See below!

Total Count: decreased from 1302 in 2019 to 1286 in 2020, not down too low! But inventory is still creating multiple offers. 

Avg List Price: $398k in 2019, and $420k in 2020

Avg Sold Price: $$390k in 2019 and $410k in 2020

Days on Market: Went from 14 in 2019 to 17 in 2020 

As you can see, June 2020 is about the same as June 2019. However, home prices have increase an average of $25k from last year. NOW IS THE TIME TO SELL!!

Buyers, if you are sitting on the fence, prices are only increasing. NOW IS THE TIME TO BUY!! Interest rates are lower now than they were 6 month ago. We don’t know how long that will last! You can qualify for a more expensive home now with a lower monthly payment than six months ago. 

Contact me with questions!! I have options!! Fill out the form below or call 801-201-2949

 

Watch this video to see how May 2020 compared to May 2019!

May 2020 market update

As you can see, we are still in a sellers market, now more than even last year. If you are considering selling, DO IT NOW!! There are multiple offers and we are hot right now!! 

If you would like a free comparative market analysis, please reach out for your no obligation, free report!  

Let’s get your home sold fast, with the most exposure possible, and make it a smooth transition! Glossary: PPSF (Price Per Square Foot), DOM (Days on Market). Red is a decrease to previous year, Green is an increase from previous year.

                                  # Homes         List Price           Sold Price     List to Sold      PPSF          DOM

January 2020           1.5%                    8%                    8%                     8%                 Same           6%

February 2020           4%                      10%                13%                    2%                   8%             16%

March 2020                 3%                      14%               15%                     1%                   7%             50%

April 2020                    26%                      4%                 7%                      3%                    10%           50%

May 2020                     28%                      5%                 5%                       0%                    8%             33%

June 2020.                   1%                        5%                 5%                      1%                    8%             18%

YTD                                 11%                      8%               10%                    1%                     9%             18%