UTAH HOUSING DATA Since the PEAK of the Market #utahhousing

1 year ago
10

NEW REPORT: August 30, 2023. UTAH HOUSING DATA Since the PEAK of the Market. Utah home prices are WAY down since the peak of the market. At the Peak of the Utah housing market in May 2022, 4,059 homes were sold. In July 2023, only 3,038 homes sold. That’s 1,021 fewer homes sold today compared to when the market was on fire. In May of 2022 a home sold in just 6 days. It’s taking 18 days longer to sell a house today. The median price per sq.ft. at the peak was $244.26 which means we are down $13/sq.ft. from the peak. In May 2022, the Median Sold price for a single-family home was $598,500 compared to $552,000 today. So, the median sold price is still down by $46,500. At one point home prices were down by more than $100,000. But prices have increased every month this year.

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