JULY 2023 Utah Real Estate Market Update - takes a turn

The numbers are in from June, What will they tell us about the Utah Real Estate Market and trends?

YEAR OVER YEAR
First we'll take a look at numbers year over year Statewide - The number of days on market or the time it takes for a home to accept an offer is up 21 days vs 9 days in 2022.

The number of units sold is up 3180 vs 3127 in 2022

The median sold Price for single family dwellings is down 7% at 550,000 vs 590,000

MONTH OVER MONTH
Month over month we are seeing improving trends.
Days on market dropped 2 days from 23 in may to 21 in June
Number of sold units is down 6.3%

But the part everyone is waiting for is prices are UP 1.6% over last month.

Despite high rates and higher inventory than we've seen for a few years, prices are maintaining and homes are still selling relatively quickly

I'll have separate videos highlighting the 4 largest counties along the Wasatch front, Salt Lake, Davis, Weber and Utah counties so if you are interested in seeing the differences make sure to check those out. If you found this information helpful and informative please like and subscribe as we'll continue to document this fluctuating market.

If you are curious how much your current home is worth after the double digit increases in value the last few years I'd be happy to prepare a market analysis. Thanks for watching

Send me a message.

Rich Barton
Realtor
Unity Group Real Estate
801-499-6007

1775 E. 4500 S.
Holladay UT 84117

https://linktr.ee/RichBartonREALTOR

http://luxurymountainestates.com

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