SALT LAKE CITY — While not exactly on fire as they were a few years ago, Salt Lake City home sales continue to go against national averages and stay somewhat warm if not exactly hot.
New data from RE/MAX shows just over 1,000 home sales in October in Salt Lake City, up 3.3% from the previous month and 13.4 percent over Oct. 2022. Those numbers defy reporting from the U.S. overall in which sales dropped nearly 5 percent from September to October.
Home prices remained steady, with the median sales price in the city hitting $509,950, a slight decrease of less than 1 percent from the year prior. For comparison, the average home sales price in the U.S. last month was $410,000.
When houses are put up for sale, they're available longer. The report shows homes averaged a total of 46 days on the market in Salt Lake City last month, which is up 12 percent year-to-year and nearly 3 percent month-to-month.
Compared to the same time in 2022, there's far fewer homes on the actual market with inventory of 2.9 months available, down 26.1 percent. However, the inventory is up month-to-month by nearly 12 percent.
