Real Estate Market Update October 2024
/
Image from utahrealestate.com
The month of September in Salt Lake County was similar to what we saw in August. Prices in September were up about 3.5% over last year, and there were more houses listed than the year before, too. That’s continuing the trend of the pendulum swinging to a more balanced market between buyers and sellers. This is a welcome change after such a long stretch of a seller’s market. Historically, home prices have an average price increase of 3-5% yearly. We are seeing that this year. In the last few years, home prices have gone up 10% or more. That’s not sustainable, so this more moderate rise is welcome.
If you’re in the market to move, reach out below and we’ll get started.