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How’s the Market?

In February, Salt Lake County’s real estate market saw some significant shifts. Listings increased by nearly 15% compared to last year, indicating more homes were up for grabs. Meanwhile, home sales rose by 10%, suggesting a bustling market where buyers were active. The median home price climbed to approximately $525,950, surpassing last year’s figures. Over the past year, home values have seen a solid 4.6% uptick. With spring approaching, it’s a prime moment to contemplate selling your home if you’ve been thinking about it. Don’t hesitate to reach out to us for a tailored discussion about your situation. We’re here to help you navigate this dynamic market and devise strategies to maximize your return.

Curious about your county? View more county stats below or give us a call and we can send you your county stats of interest.

Here are a few things for buyers to keep in mind when comparing our current market to the height of the pandemic:

  • Sellers are more willing to contribute to closing costs, rate buy downs, repairs, etc. 
  • No one can predict the market but one thing is for certain, home values appreciate over time. 

What does this mean for you?

  • If you’re looking to sell, making your offer stand out from other listings and offering concessions, repairs, etc is the key to your success. 
  • If you’re looking to buy, there are ample opportunities to get a house that fits your needs AND get concessions such as rate buydowns or repairs. 

Whether you’re buying or selling, our agents are Master Negotiators and know how to get the most when closing the deal. Click here to meet our agents.

*Source: Utah Association of Realtors