SLC Market Update Fall 2021
/Let’s take a minute and look at the Salt Lake County real estate market so far this year.
According to the Salt Lake Board of Realtors and the Wasatch Front MLS, home prices have increased nearly 25% over last year. The homes are also selling on average in about 17 days - that’s 47% faster than last year! So far this year we’ve seen about 11% less homes on the market than last year too.
What does that mean? That means if you are a seller, if you price your house well, you will sell it quickly and at a premium. If you are a buyer it means that it’s still a competitive market and you need to get all your financing ducks in a row and bring your A-game when you start looking. It also helps to have a realtor who knows their stuff representing you. So far this year all of my buyers have closed on houses they wanted and all of my sellers have sold their houses in under a week!