Wednesday, October 28, 2015

The Salt Lake Board of Realtors® is pleased to present you with an overview of the third quarter Housing Report.

In Salt Lake County during the July-August-September period there were 3,811 single-family homes sold by Realtors®. That represents an increase of 15.38 percent compared to 3,303 homes sold during the same quarter last year.

The top five Wasatch Front cities with the most home sales in the third quarter were: Clearfield (320 sales), Lehi (302 sales), South Jordan (283 sales), Tooele (277 sales) and Farr west (273 sales). In Salt Lake County, the top five cities with the highest number of homes sold were: South Jordan (283), Herriman (208), Taylorsville (204), West Jordan (187), and Draper (166).

All counties along the Wasatch Front reported strong single-family home sales. Utah County saw a 20.53 percent rise in sales year-over-year. Sales increased 8.14 percent in Davis County. Weber County reported a 14.26 percent rise, and Tooele County saw a 33.47 increase.

The median price of a single-family home increased 8.77 percent to $279,000, up from $256,500 a year earlier.

The top five priciest Wasatch Front cities by median price of single-family homes sold in the third quarter were: Alpine ($606,000), Huntsville ($509,332), Avenues ($427,950), Emigration Canyon ($423,000) and Draper ($422,750). In Salt Lake County the top five highest median home values were: Avenues ($427,950), Emigration Canyon ($423,000), Draper ($422,750), Sandy-84093 ($382,000), and Holladay (84117).

Sales of condominiums and townhomes saw a bigger increase than single-family homes at 1,067 sales, up 35.92 percent compared to 785 sales last year. The median price of condos increased to $188,972, up 7.98 percent compared to $175,000 last year at this time.

The average cumulative days on the market for listings in Salt Lake County in the third quarter dropped to 48 days, down from 62 days in the third quarter of 2014.

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