Market Statistics

The combined sales in 2017 of single-family and multifamily homes in Salt Lake County totaled 17,804 units, the third highest year ever. Only during the two years preceding the Great Recession (2005-2006) and 2016 were residential sales higher Figure 1. Salt Lake City captured by far the largest share of residential sales activity with nearly a 25 percent share; a total of 4,213 homes, far ahead of other top ranked cities. The next four highest ranked cities in number of home sales were: West Jordan (1,796 homes), Sandy (1,617 homes), West Valley (1,499 homes) and South Jordan (1,437 homes.)

This 2018 year both household growth and net in-migration in Salt Lake County are projected to be at record levels. Net in-migration of 6,900 individuals and households growth of 8,500 are expected. This level of growth will support strong demand for housing. Demand will also be given a boost by buyers jumping into the market hoping to beat higher interest rates. Strong demand will put upward pressure on prices, but another year of a double-digit increase is unlikely. Prices will be up by 7-8 percent in 2018. The median sales price of a single-family home will be near $350,000.

Outlook on Mortgage Rates:

Will mortgage rates in 2018 deliver another year of favorable affordability for homebuyers and Realtors? Most experts agree that rates probably won’t be quite as favorable, but few forecasters predict year-end rates above 5 percent.

Click here for the 2018 Salt Lake Housing Forecast.

July 2018 Housing Update PDF.

Upcoming Local Events

“Fun” means something different to everyone. For some, it’s exploring mountain trails. For others, it’s taking the kids to a hands-on science exhibit. And for others, it’s live music and beer. Salt Lake’s event calendar is bursting at the seams with fun stuff for every inclination, every day and night of the week.

Browse the Salt Lake City Events for all upcoming events.