SLC Median Listing Home Price
Salt Lake City, UT is currently experiencing a buyer’s market, with an ample supply of homes available. In August 2023, the median listing home price reached $634.9K, showing a 6% increase from the previous year. Homes are selling for close to their listed price, with a sale-to-list price ratio of 100.36%. The average days on the market is 38, indicating a relatively quick turnaround. Salt Lake City boasts top-rated public schools and a wide range of amenities, including grocery stores, cafes, restaurants, parks, gyms, and affordable rental options starting at $323 per month.
Real Estate Statistics in Salt Lake City, UT
The median listing home price in Salt Lake City, UT was $634.9K in August 2023, showing a 6% increase compared to the previous year. This indicates a steady growth in the real estate market of the city. However, when it comes to housing affordability, it is important to consider other factors as well. The median home price per square foot in Salt Lake City is $336, which gives potential buyers an idea of the cost per unit area. Additionally, the median home sold price stands at $538.4K, indicating the average price at which homes are being sold. These statistics provide valuable insights for individuals who are interested in purchasing a home in Salt Lake City and want to understand the current market conditions and the affordability of housing options.
Housing Market Overview: A Buyer’s Market
With more homes on the market than buyers, the current housing market in Salt Lake City, UT favors those looking to purchase a property. Several factors contribute to this buyer’s market. Firstly, there is an oversupply of homes available, creating a higher inventory than demand. This surplus gives buyers more options and negotiating power. Additionally, the median days on the market have increased since last month, indicating a slower rate of sales. Moreover, the median days on the market have slightly increased compared to the previous year, suggesting a longer selling process for sellers. As a result, sellers are more inclined to accept offers closer to the asking price, as homes are not selling as quickly. These factors collectively drive home prices down, making it an opportune time for buyers in Salt Lake City, UT.
Top Schools in Salt Lake City, UT
Public schools in Salt Lake City, UT have received good ratings and above by GreatSchools, which assesses school quality indicators such as test scores, college readiness, and equity data. These ratings serve as a valuable resource for parents and students seeking educational opportunities in the area. GreatSchools’ rating system provides a comprehensive evaluation of the schools’ performance and allows families to make informed decisions when choosing a school for their children. Salt Lake City’s public schools have consistently shown strong academic performance, ensuring that students receive a quality education. By considering factors such as test scores, college readiness, and equity, GreatSchools provides a comprehensive assessment of school rankings, giving parents and students the necessary information to make informed choices about their educational future.
Abundant Amenities in Salt Lake City, UT
Dozens of grocery stores, hundreds of cafes and restaurants, and various parks and gyms are available in the area of Salt Lake City, providing residents with a wide range of amenities to enjoy. When it comes to shopping options, Salt Lake City has no shortage. Residents can find everything they need at the numerous grocery stores scattered throughout the area. From large chain supermarkets to specialty markets, there is something for everyone’s taste and budget. Additionally, the city boasts a diverse culinary scene, with hundreds of cafes and restaurants offering a variety of cuisines. Whether you’re in the mood for a quick bite or a fine dining experience, Salt Lake City has it all. And for those looking to stay active, the city offers various parks and gyms where residents can engage in recreational activities. From hiking and biking trails to fitness classes and sports facilities, there are plenty of options to help residents stay fit and have fun. Overall, Salt Lake City’s abundant amenities make it a desirable place to live for those seeking convenience and a high quality of life.
Popular Neighborhoods in Salt Lake City, UT
Liberty Wells, one of the popular neighborhoods in Salt Lake City, UT, boasts a median listing home price of $600K and a listing price per square foot of $354. This information is essential for those interested in the neighborhood’s housing affordability.
When considering neighborhood demographics, Liberty Wells is known for its diverse population. It attracts a mix of families, professionals, and retirees, creating a vibrant community with a range of ages and backgrounds.
In terms of housing affordability, the median listing home price of $600K may be considered high for some buyers. However, it is important to note that the neighborhood offers a variety of housing options, including single-family homes, townhouses, and apartments.
Overall, Liberty Wells provides a desirable living environment for individuals seeking a diverse community and are willing to invest in a higher-priced housing market.