Median Home Price Climb In Salt Lake County

Dated: 11/12/2018

Views: 111

Salt Lake County home prices continued to climb in the third quarter of 2018, according to the Salt Lake Board of Realtors®. The median single-family home price in the July-through-September period increased to $355,000, up 9.2 percent compared to a median price of $325,000 in last year’s third quarter.

Median Sale Price In Salt Lake County“Strong demand for homes is being driven by new household formations and net migration,” said Adam Kirkham, president of the Salt Lake Board of Realtors®. “This has created a housing deficit that continues to push prices higher.”

Home prices increased across all Wasatch Front counties including: Davis, up 10.9%; Tooele, up 14.6%; Utah, up 11.3%; and Weber, up 9.6%.

The top 10 highest median prices in the third quarter by ZIP code area were:

1. Alpine (84004) $735,000
2. Emigration Canyon (84108) $635,000
3. Avenues (84103) $614,000
4. Holladay (84117) $562,089
5. Draper (84020) $541,836
6. Holladay (84124) $505,000
7. Eden (84310) $487,450
8. South Jordan (84095) $477,000
9. Sandy (84092) $474,750
10. East Millcreek (84109) $470,500

Sales of single-family homes in Salt Lake County were down 0.3% in the third quarter year-over-year, following a second-quarter drop of 4.6%. Davis County saw sales fall 11.8%. Sales were flat in Tooele County. Utah County sales were down 1.4%. Sales in Weber County were up 9.6%.

The typical Salt Lake home was on the market 31 days in the third quarter before it sold, unchanged from 31 days on the market in last year’s third quarter.

Want to Advertise on this Site?

Latest Blog Posts

Using A Reverse Exchange

Using a Reverse Exchange as a Tool in a Competitive Market                 INTRODUCTION Many investors are

Read More

Radon In Utah

What is radon?Radon is an odorless, tasteless, colorless gas. It is created when the element radium, breaks down through radioactive decay. Radon is the leading cause of lung cancer among non

Read More

To Sell Or Not To Sell

It's no secret that life's been pretty good to sellers for the past several years. Even if you had no need—or desire—to move, the housing landscape might have seriously tempted you to put your

Read More