Salt Lake Home Prices continued their seamlessly endless climb in 2017, with the median sales price climbing 10.18% to $291,975. There were some signs of softening towards the back end of the year, but this was limited to the upper end of the market, the rest of the market remained very strong. This was particularly true in the starter home segment and the more fashionable areas like 9th and 9th and the Avenues where competition among buyers was fierce.
Apart from the median sales price, the rest of the data was pretty much the same as in 2016. Total listings for 2017 were 22889 (down 0.06%), sales were 17922 (down 0.89%), and median days on market 14 (unchanged).
Single family homes saw their median sales price increase 10.17% to $325,000. There were slightly fewer home listings which declined 1.06%, and sales were down 2.55%. The total days on market ticked up by 1, going from 14 to 15 days. When we look at the best performing areas we can see that the more affordable areas performed best.
The Salt Lake Condo market performed even better, with all key indicators showing positive signs. The condo median sales price in Salt Lake County was $188,000, a 10.98% increase. The total number of condo sales increased 6.19% with 2075 sales and the median days on market dropped from 14 to just 9 days.
Best Performing Condo Zip Codes
Riverton 84065 up 49.25% $250,000
South Salt Lake 84115 up 41.51% $154,950
South Jordan 84095 up 38.19% $276,009
For a complete list of prices by zip code please visit our Salt Lake Home Prices page.