Published October 9, 2020
Utah Real Estate Market September 2020
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The market this year has been really busy! Inventory is down and so are interest rates which are pushing up home prices in Salt Lake Valley. The good news is that interest rates are making buying a home more affordable, especially with higher-priced homes!
1) Salt Lake County – September
Sales Volume: $787,216,358.00 in 2020 vs. $618,461,446.00 in 2019
Median home sale price $385,000.00 in 2020 vs. $349,000.00 in 2019
Cumulative Days on Market: 9 in 2020 vs. 25 in 2019
Home sale count: 1,741 in 2020 vs. 1,567 in 2019
Price per sq. ft $180.60 in 2020 vs. $160.98 in 2019 –a difference of $19.50 per sq. ft.
Median list to sold price 100% in 2020 vs. 100% in 2019
2) Utah County – September
Sales Volume: $427,224,373.00 in 2020 vs. $325,338,154.00 in 2019
Median home sale price: $363,851.00 in 2020 vs. $332,000.00 in 2019
Cumulative Days on Market: 9 in 2020 vs. 32 in 2019
Home sale count: 1,025 in 2020 vs. 891 in 2019
Price per sq. ft $154.27 in 2020 vs. $137.50 in 2019 – a difference of $16.50 per sq. ft.
Median list to sold price 101% in 2020 vs. 98% in 2019
3) Davis County – September
Sales Volume: $210,670,849.00 in 2020 vs. $163,599,925.00 in 2019
Median home sale price $370,000.00 in 2020 vs. $319,000.00 in 2019
Cumulative Days on Market: 6 in 2020 vs. 20 in 2019
Home sale count: 521 in 2020 vs. 465 in 2019
Price per sq. ft $163.06 in 2020 vs. $144.73 in 2019 –a difference of $18 per sq. ft.
Median list to sold price 103% in 2020 vs. 98% 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!
Definitions:
Sales Volume – All home sales
Cumulative Days on Market – how many days a home was listed as Active on the market
