SALZSEE-CITY (KUTV) –
New housing numbers have reinforced the record levels that Utah’s market has reached.
The average home sale price in the Salt Lake metropolitan area is now $ 450,000, according to the RE / MAX National Housing Report. It is the highest award in the history of the report.
These numbers are in line with data from UtahRealEstate.com, analyzed by the Kem C. Gardner Policy Institute and reported by 2News nearly two weeks ago. These data showed that Utah house price growth has risen by double digits year on year, with average sales prices record high.
The RE / MAX National Housing Report studies 53 metropolitan areas across the country and has been doing so for 13 years. According to the report, the average Salt Lake area home is now selling half the time compared to last year, and the number of homes for sale remains low compared to last year.
“Anything under $ 700,000, $ 750,000, even $ 800,000 – there are multiple offers,” said Josh Horner of RE / MAX Masters in Salt Lake City. “I’m talking about 20 to 30 offers, all of which are at or above the offer price. So it is very difficult for buyers. “
Horner said he anticipated a hot Utah market in the near future.
“At least until 2021 and probably into the first two quarters of 2022, we won’t move too much, simply because of supply and demand, as simple as that sounds,” said Horner.
While the Utah market is on fire, the real estate market cooled slightly in May, with a small drop in sales from April, according to the RE / MAX report. According to the report, prices were also relatively flat in the areas examined.
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