Published September 3, 2020
Utah Real Estate Market August 2020
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HAPPY LABOR DAY (Almost)! I hope you have some fun plans this weekend, even if that is just getting outside and taking a hike :-)
I just found out about an awesome program in Utah where grants are being given to companies to offer discounts to help stimulate economic activity. You can check out the list here. Let me know if there are any places on here I should check out!!
Before we get into #s, we want to know, what can we do to help you right now?
Below are our housing stats updated on Salt Lake, Utah, and Davis County for August. The market is still going crazy despite COVID-19. This is due to crazy low-interest rates and less inventory.
1) Salt Lake County - August
Sales Volume: $724,352,255.00 in 2020 vs. $703,171,120.00 in 2019
Median home sale price $381,865.00 in 2020 vs. $345,000.00 in 2019
Cumulative Days on Market: 10 in 2020 vs. 23 in 2019
Home sale count: 1,639 in 2020 vs. 1,786 in 2019
Price per sq. ft $179.56 in 2020 vs. $160.60 in 2019 –a difference of $19 per sq. ft.
Median list to sold price 100% in 2020 vs. 99% in 2019
2) Utah County – August
Sales Volume: $430,020,099.00 in 2020 vs. $409,375,646.00 in 2019
Median home sale price: $361,500.00 in 2020 vs. $335,500.00 in 2019
Cumulative Days on Market: 10 in 2020 vs. 27 in 2019
Home sale count: 1,038 in 2020 vs. 1,119 in 2019
Price per sq. ft $151.51 in 2020 vs. $135.02 in 2019 – a difference of $16.50 per sq. ft.
Median list to sold price 101% in 2020 vs. 97% in 2019
3) Davis County – August
Sales Volume: $223,088,909.00 in 2020 vs. $201,166,704.00 in 2019
Median home sale price $376,000.00 in 2020 vs. $336,000.00 in 2019
Cumulative Days on Market: 6 in 2020 vs. 15 in 2019
Home sale count: 525 in 2020 vs. 564 in 2019
Price per sq. ft $158.25 in 2020 vs. $143.89 in 2019 –a difference of $14 per sq. ft.
Median list to sold price 99% in 2020 vs. 99% in 2019
These numbers only account for homes that were sold on the Multiple Listing Service so much of the new construction is not factored in.
Let us know if you have any questions about these numbers or have any other real estate questions that I can answer, I am always here to help!
